What factors are considered to determine the quantum of exemplary damages awarded against a defendant who is found guilty of a breach of the Corporations Act?
California, United States of America
The following excerpt is from Betts v. Allstate Ins. Co., 154 Cal.App.3d 688, 201 Cal.Rptr. 528 (Cal. App. 1984):
A second factor is the wealth of the defendant. The award is for the purpose of punishment and for sake of an example. It follows, the wealthier the wrongdoing defendant, the larger the award of exemplary damages must be in order to accomplish the statutory objective. (Neal v. Farmer Ins. Exchange, supra, 21 Cal.3d at 928, 148 Cal.Rptr. 389, 582 P.2d 980.)
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