They claim have a pretrial agreement to reduce it to 3x compensatory damages (which would make the total judgemnet 160 million instead of 243 million).
Appealing is expensive because they have to post a bond with 100% collateral, and you pay for it yearly.
In this case, probably around 8 million a year.
So in general its not worth appealing for 5 years unless they think they will knock off 25-30% of the judgement.
Here it's the first case of it's kind so i'm sure they will appeal, but if they lose those appeals, most companies that aren't insane would cut their losses instead of trying to fight everything.
They will 100% fight it regardless. This is a massive verdict against them and it sets a bad precedent. There's no way they don't fight it. It's a ridiculously large verdict.
DannyBee|10 days ago
Appealing is expensive because they have to post a bond with 100% collateral, and you pay for it yearly. In this case, probably around 8 million a year.
So in general its not worth appealing for 5 years unless they think they will knock off 25-30% of the judgement.
Here it's the first case of it's kind so i'm sure they will appeal, but if they lose those appeals, most companies that aren't insane would cut their losses instead of trying to fight everything.
DoesntMatter22|10 days ago
LeoPanthera|10 days ago
DannyBee|10 days ago
The appeal will go to the 11th circuit.
tiahura|10 days ago
Hamuko|10 days ago
EastSmith|10 days ago
> Tesla has indicated it will appeal the verdict to a higher court.
DoesntMatter22|10 days ago