February 9, 2018
Chris Dolmetsch and Christie Smythe
Arab Bank Plc won a ruling that tossed out a jury verdict holding it responsible for financing a wave of violence that killed or wounded Americans in Israel in the early 2000s.
After the 2014 verdict, the parties agreed in a 2015 settlement that the bank would pay at least $100 million to the victims if the case was upheld on appeal — and smaller amounts if there was a reversal. On Friday, a federal appeals court in New York overturned the verdict on legal grounds, saying the jury had been improperly instructed on legal issues.
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