STEPHEN H. ANDERSON, Circuit Judge.
Appellants Norton, Heir, Nossem, Farguson and Eikleberry (hereinafter referred to as the "Shippers"), each having an ownership interest in one or more of the eleven horses killed or injured when the horse transport van owned and operated by Jim Phillips Horse Transport, Inc. ("Phillips") overturned, brought this action for damages against Phillips. Phillips asserted its liability was effectively limited because the "released valuation...
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