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Verdict Hammers Pre-Paid
Pre-Paid Legal Services (PPD Quote) tumbled 5% Wednesday after the company suffered a rare legal setback.
Ada, Okla.-based Pre-Paid and its founding CEO were ordered to pay $9.9 million in punitive damages for defrauding a customer in Mississippi.
Pre-Paid must fork over $4.4 million of that total with CEO Harland Stonecipher on the hook for the rest, says plaintiff attorney Doug Minor. The damages represent 10% of each party's estimated net worth, Minor says. ...
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