A federal appeals court has overturned a March 2007 district court judgment that had awarded $129 million in damages to OSI Systems [OSIS] in that company's lawsuit against L-3 Communications [LLL] on claims of fraud and breach of fiduciary duty related to the acquisition of another company's security detection business in 2002. OSI won the jury verdict last year, which included $33 million in compensatory damages and $96 million in punitive damages, potentially creating a nice windfall for the company…
L-3 Wins Appeal of $129M Verdict that Favored OSI Systems
SHARE:
