Damages' third season first aired from January 25 to April 19, 2010. The series was created by brothers Todd and Glenn Kessler along with Daniel Zelman, executive producers all and scriptwriters of four episodes, including the premiere and the finale.

Set a year after season two, Patty's focus now rests on Louis Tobin, the patriarch of a wealthy family, who has just confessed to orchestrating the largest Ponzi scheme in Wall Street history. The government has tasked Hewes and Shayes with finding the Tobins' hidden money and uncovering any evidence that other family members had knowledge of the fraud. Ellen Parsons has taken a job at the New York District Attorney's office, but she finds herself being pulled further and further back into Patty's orbit. Tom, who had invested with Tobin, has lost 70% of his net worth, as have numerous others he helped invest. He struggles to keep his involvement from interfering with the case and secret from Patty.