Charter settles with family of murder victim, says insurance will cover it
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."
Previously:
Judge rules Charter must pay $1.1 billion after murder of cable customer