Ohio court reverses $2 billion judgment against Ford
(Reuters) - The Ohio Court of Appeals reversed a $2 billion judgment against Ford Motor Co this week and ordered a new trial for a group of dealers who said the No. 2 U.S. automaker overcharged them for commercial trucks over an 11-year period.
In its Thursday ruling, the appeals court said the contract at the heart of the dealers' class-action suit was "ambiguous." It also said evidence submitted by Ford was wrongly excluded.
"We hold that the trial court abused its discretion in excluding Ford's mitigating evidence at the damages trial," the court said in its ruling.
Ford disclosed the reversal in a quarterly filing with the U.S. Securities and Exchange Commission on Friday.