Update: In a Jan. 26, 2011 decision, the U.S. Court of Appeals, 10th Circuit reversed the district court’s decision on the punitive damages portion of the award. That award, initially $62.7 million, had been reduced to $3.6 million by the district court before being thrown out altogether by the 10th Circuit.

The $3.6 million in compensatory damages stands, and the 10th Circuit decision says American National “does not contest the jury’s finding of liability.” But the court says Farm Bureau “failed to present any evidence at trial of ‘additional aggravating circumstances’ that entitled it to punitive damages.” 

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