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An appellate court has thrown out the $500 million civil fraud penalty against former President Donald Trump in the high-profile case brought by New York Attorney General Letitia James.
The New York Appellate Division overturned the penalty, ruling the disgorgement was an excessive fine that violates the Eighth Amendment.
NY AG Letitia James and President Donald Trump (Getty Images)
The panel upheld findings that Trump and his company were liable, affirming that James acted within her authority and that injunctive relief to curb Trump Organization practices was appropriate.
The ruling leaves liability intact but eliminates the massive financial penalty.
Fox News’ Tamara Gitt and Kevin Ward contributed to this report.
This is a breaking news story and will be updated.