Cases

Collins Stewart Ltd & Another v The Financial Times Ltd

Held

(1) The special damages claim based on the fall in the Plc's share price was struck out. Share price was not a suitable guide to the company's loss: "the reasons why a share is traded at a particular price ... are unknown, or, at best, matters of conjecture." Further, the argument that such a value was a suitable measure of loss was circular. Were the market rational enough to provide a sound measure, it would take into account the prospects of recovery in the libel action, such that damages measured by a fall in market price would be nil. (2) The issue of damages would be tried by judge alone. If a jury were to decide that question there would be a real danger of double or under-compensation and of a verdict inconsistent with that on special damages.

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