Gulftide Gas Corp. v. Cox

OPINION

COHEN, Justice.

Appellees sued appellant alleging breach of contract, fraud, and breach of fiduciary duty. In accordance with the jury’s verdict, judgment was rendered against appellant for actual damages of $383,077.32, plus pre-judgment interest, and punitive damages of $1,149,231.96.

The facts are not in dispute. In June 1977, appellees, who were producers of natural gas, contracted with appellant, a gas transmission company, for appellant to purchase gas at a base price of $1.90/per thousand cubic feet, hereafter called “mcf.” Appellant represented to appellees that it had an…