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First Valley Bank of Los Fresnos v. Martin8/9/2001
h damages, $2,000,000 for damages to reputation, and $360,000 for loss of earning capacity. The award of $360,000 for loss of earning capacity is an economic damage; that is, it is a compensatory damage for pecuniary loss. SeeTex. Civ. Prac. & Rem. Code Ann. ยง 41.008 (Vernon 1997). Thus, two times the economic damages in this case is $720,000. The amount of non-economic damages is $2,500,000. Section 41.008 permits an award of two times economic damages plus an amount equal to any non-economic damages, not to exceed $750,000. Therefore, Martin was entitled to no more than $720,000 plus $750,000, or $1,470,000 in exemplary damages. Appellants' twelfth issue is sustained and the award of exemplary damages is reduced accordingly.
With respect to Martin's claim of fraud, the judgment of the trial court is REVERSED and RENDERED that Martin take nothing. Likewise, the award of damages in favor of Martin for loss of credit reputation is REVERSED and RENDERED that Martin take nothing. The award of exemplary damages is MODIFIED to reflect an award of $1,470,000. In all other respects, the judgment is AFFIRMED.
NELDA V. RODRIGUEZ Justice
Publish. Tex. R. App. P. 47.3.
Opinion delivered and filed this 9th day of August, 2001.
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