The appellate ruling that tossed the $1.58 billion verdict for billionaire financier Ronald O. Perelman could have a major effect on similar business- and securities-fraud cases in Florida.
Observers say the case could force plaintiffs lawyers to present more careful valuation evidence, make companies more conscientious about producing all e-mails and other requested discovery and affect Florida law on whether punitive damages are allowed even without compensatory damages.
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