Vogt v. State Farm Life Insurance Co., No. 20-3481 (8th Cir. 2021)
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In a previous opinion, the district court affirmed a $34.3 million jury verdict in favor of the class represented by plaintiff and reversed the district court's denial of prejudgment interest. The court then remanded the matter for the district court to reconsider plaintiff's motion for prejudgment interest. State Farm appealed.
The Eighth Circuit affirmed the district court's award of prejudgment interest, concluding that plaintiff was entitled to prejudgment interest at the 4% rate contained in the contract, and the district court did not err in calculating the amount of interest due and awarding plaintiff $4,521,674 in prejudgment interest.
Court Description: [Shepherd, Author, with Wollman and Kobes, Circuit Judges] Civil case - Insurance. For the court's previous opinion affirming the jury verdict and remanding the matter for reconsideration of plaintiff's motion for prejudgment opinion, see Vogt v. State Farm Life Insurance Co., 963 F.3d 753 (8th Cir. 2020). This court held that plaintiff was entitled to prejudgment interest at the 4% rate contained in the contract, and the district court did not err in calculating the amount of interest due and awarding plaintiff $4,521,674 in prejudgment interest.
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