Brooke Group Ltd. Issues Statement On Engle Ruling.Business Editors MIAMI Miami, cities, United States Miami (mīăm`ē, –ə). 1 City (1990 pop. 358,548), seat of Dade co., SE Fla., on Biscayne Bay at the mouth of the Miami River; inc. 1896. , FL--(BUSINESS WIRE)--April 10, 2000 Brooke Group Ltd. (NYSE NYSE See: New York Stock Exchange : BGL BGL The pre-July 1999 ISO 4217 currency code for Bulgarian Lev. ) today issued the following statement regarding the April 7 ruling in the Engle class action trial in Florida State Court: "We are pleased that the jury has assessed zero percent comparative liability for the named class representatives against Brooke Group or Liggett Group in the compensatory phase of the Engle trial. It is the law in Florida, as in every state, that there can be no punitive damages Monetary compensation awarded to an injured party that goes beyond that which is necessary to compensate the individual for losses and that is intended to punish the wrongdoer. in the absence of a prior compensatory award. We do not believe that there is any legitimate basis for punitive damages against Brooke Group or Liggett Group in the final phase of the Engle case." Brooke is a holding company which owns Liggett Group Inc. and controlling interests in Liggett-Ducat Ltd. and New Valley Corporation. |
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