50-Off Stores, Inc. v. Banques Paribas (Suisse), S.A., Howard White, Third Party v. The Chase Manhattan Bank, N.A., Defendant-Third Party

W. EUGENE DAVIS, Circuit Judge:

Defendant-Appellant The Chase Manhattan Bank, N.A. (“Chase”) appeals a jury verdict in excess of $150 million in compensatory, consequential, and punitive damages for the conversion of 1.5 million shares of stock of Plaintiff-Appellee 50-Off Stores, Inc. (“50-Off”). For the reasons that follow, we vacate the awards of punitive damages and prejudgment interest and uphold the awards of compensatory and consequential damages.

I

We review the record, including factual and credibility determinations and the reasonable inferences that may be drawn therefrom, in the…