- 21 - circumstances to ascertain in lieu of what the settlement amount of $8,500,000 was paid. Id. We do not find that the evidence supports petitioners' assertion that none of the amount paid in settlement was paid in lieu of either punitive damages or interest. To the contrary, the partial settlement agreement shows that Harte-Hanks agreed to pay, and petitioner agreed to accept, $2,400,000 in satisfaction of the principal amount of the judgment between $7 million and $12 million, and to extinguish any and all postjudgment interest liability on the first $22 million of the judgment. Furthermore, Columbia and Hudson agreed to pay, and petitioner agreed to accept, $3 million in satisfaction of the principal amount of the judgment between $12 million and $22 million. Columbia's and Hudson's liability threshold was $12 million, and the judgment provided total actual damages of $11,500,000; Columbia and Hudson would not have paid $3 million unless they thought prejudgment interest and punitive damages would total at least $3,500,000. Harte-Hanks' agreement to pay postjudgment interest and Columbia's and Hudson's actual payment of several millions of dollars speak with a voice heard more clearly than petitioners' assertions. We find that petitioners have not carried their burden of proving that respondent's determinations are erroneous. On brief, respondent proposes an alternative method of allocation which he concedes may be "the most proper methodology to use to allocate the settlement payment." Under thisPage: Previous 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Next
Last modified: May 25, 2011