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Article: LARGEST LIBEL AWARD EVER GOES AGAINST DOW JONES WALL STREET JOURNAL MUST PAY $222 MILLION.(Business)
- Article from:
- Rocky Mountain News (Denver, CO)
- Article date:
- March 21, 1997
CopyrightCOPYRIGHT 1997 Rocky Mountain News. All rights reserved. Reproduced with the permission of Dialog LLC by Gale Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Daniel Fisher Bloomberg News
HOUSTON -- STOCK WATCH
Dow Jones & Co.: $42.25, fell 63 cents.
Dow Jones & Co. was ordered to pay $222.7 million to a Houston bond firm in what lawyers said was the largest libel verdict in U.S. history.
After a day and a half of deliberations, a jury in U.S. District Court found that the publisher of The Wall Street Journal destroyed MMAR Group Inc.'s business with a 1993 article that portrayed the firm and its principals as reckless ``bond daddies'' who defrauded their customers.
Wall Street Journal Managing Editor Paul Steiger said Dow Jones plans to appeal. ``We were chronicling the ...