Lowball Watch — Mississippi

This is quite a story, and it comes to us from Gulfport, Mississippi. Mary Perez, Jury Awards Dedeaux Utility $8.1 Million Plus Interest,  The Sun Herald, Dec., 23, 2013.  This was the third trial, which gives you a hint of what is going on here. In 2004, the city took Dedeaux Utility Co., a local utility, and the jury awarded $3.6 million. The city appealed, and the Mississippi Supreme Court reversed and remanded  for another trial, in which the [second] jury awarded $5.1 million. The city didn’t take the hint and appealed again, getting another reversal from the appellate court, and yet another (third) trial, in which the jury awarded $8,063,981, plus interest.

The Sun Herald story fails to disclose what the city’s offer or evidence was, but it does tell us that the city now owes the Dedeaux Utility Company another $3.6, plus about $3 million in interest. Do you think the city will appeal again?

What is interesting to us is how much money the city and the Mississippi courts have spent to far on this caper, which might give us a clue as to how big this lowball was and whether this game is worth the candle. Maybe we will find out. Stay tuned just in case.

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