WASHINGTON–Insurance company attorneys said they are hopeful that the U.S. Supreme Court decision to review an Oregon punitive damage award will end with a decision that cuts carriers' soaring litigation losses.
Oral arguments are expected to be heard by the court in November or December.
The high court's review is being conducted with two new, more conservative judges and in the wake of Congress' decision last year to enact legislation, known as the Class Action Fairness Act of 2005, designed to reduce abuses by helping defendants move cases to the federal system.
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