Daily Time Capsule

November 19, 1985 - Pennzoil Wins $10.53 Billion Against Texaco

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Pete

Pete

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On this day, November 19, 1985, Pennzoil won a staggering $10.53 billion judgment against Texaco, marking the largest civil verdict in U.S. history at the time. The lawsuit stemmed from Texaco’s interference in a merger agreement between Pennzoil and Getty Oil, leading to a historic court battle.

This landmark case sent shockwaves through the corporate world and set a precedent for handling business disputes on such a massive scale. It also showcased the high stakes involved in mergers and acquisitions during the 1980s.

Do you think this judgment was justified, or was it an excessive penalty?
 
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