Charter Communications was once on the hook for over $7 billion in a case involving a former cable technician who murdered an elderly customer in her home. But Charter is now on the verge of settling the lawsuit for less than $262 million, an amount that will apparently be fully covered by the company's insurers.
A Dallas County Court jury last year decided that Charter should pay the victim's family and estate $7 billion in punitive damages and $337.5 million in compensatory damages. A judge lowered the total amount to over $1.1 billion. [...] "On January 11, 2023, and after issuing a series of decreasing settlement demands over several months, the plaintiffs issued a new, lower settlement demand to CC, LLC and its insurers, and then on January 18, 2023, plaintiffs also filed a notice of remittitur with the court to further reduce the judgment to $262 million, comprised of $87 million in actual damages, and $175 million in punitive damages. On January 24, 2023 and upon the insistence and demand of its insurers, CC, LLC reached a tentative settlement of this lawsuit at an amount substantially less than the reduced judgment and within CC, LLC's insurance coverage."
Charter settles with family of murder victim, says ...
Charter settles with family of murder victim, says insurance will cover it
Previously:
Judge rules Charter must pay $1.1 billion after murder of cable customer