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Court Overturns $10M Tyson Verdict
Business Law Info |
2012/03/07 17:09
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The Oklahoma Supreme Court on Tuesday tossed a $10 million jury verdict against Tyson Foods Inc., granting the company's request for a new trial based on allegations of juror misconduct and a mistake on interpreting the law.
Springdale, Ark.-based Tyson Foods claimed on appeal that some prospective jurors in the trial in McCurtain County, Okla., didn't answer questions fully or truthfully on juror questionnaires and the trial judge didn't allow oral questions on items covered in the forms filled out by the panelists.
The high court also agreed with Tyson that the growers weren't covered by the Oklahoma Consumer Protection Act. Growers had argued that since Tyson provided them with feed and chicks, that gave them standing as consumers.
Tyson has a large operation in the region, with more than 180 poultry producers in southwest Arkansas and southeast Oklahoma that raise broilers for Tyson's plant in Broken Bow, Okla. That plant and its related operations, including a feed mill, employ more than 1,700 people.
In 2008, 54 growers, with Rusty Armstrong as lead plaintiff, sued Tyson, claiming that farmers who didn't want to modernize their equipment were given inferior feed and chicks. They claimed that Tyson had favored growers who got better feed and livestock. |
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Bankruptcy threat to iPad trademark challenger
Business Law Info |
2012/03/05 17:11
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A major creditor of Proview Electronics, which is challenging Apple Inc.'s use of the iPad trademark, has moved to have the ailing computer monitor maker liquidated, reports said Monday.
Taiwan-based Fubon Insurance is seeking $8.68 million in debts and has filed an application to have Proview declared bankrupt, the reports by the Xinhua News Agency and other mainland media said.
Proview's mainland Chinese subsidiary is based in the southern export zone of Shenzhen, where an official at the city's Intermediate Court said he expected an announcement regarding the case soon.
"It's a sensitive case in a sensitive period of time, so we won't comment or release information while we will have an announcement in the near future," said the official who gave only his surname, Zhu.
Proview lawyer Ma Dongxiao said the company believes its financial problems won't affect the handling of a court case in which Apple is appealing a ruling against its claim to the iPad trademark in China. |
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Indianapolis Business & Corporate Law Firm
Business Law Info |
2012/02/24 10:40
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Entity Selection & Formation
There are many important decisions to be made by an emerging business, each of which come with potential pitfalls that be damaging to the business and its owners in the absence of proper legal guidance. Our attorneys can help you with these issues, steering you clear of the problems while helping you select the type of entity which best serves your business interests and goals. From drafting the formation documents to stock issuance to agreements between co-owners, our Firm’s skilled business attorneys can help you establish a solid legal foundation for your business’s future.
Contract Drafting & Negotiation
Beyond the formation of business entities, our Firm acts as a corporate counsel for many of its business clients, including the negotiation, drafting and review of our client’s contracts, ranging in size from a few thousand dollars to millions of dollars. With just a few hours’ time, our review of contracts before they are signed can help our clients avoid paying for hundreds of hours of attorney time in litigation once a contract dispute arises.
Riley Bennett & Egloff Law is a Business & Corporate law firm that offers an all-inclusive range of legal services for their business clients and is capable of handling the various issues any business can face. Based in Indianapolis, their attorneys have expertise in entity selection and formation, contract drafting and negotiation, and mergers and acquisitions. Their experience can help you establish a solid legal foundation for your business's future. See www.rbelaw.com. |
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Apple defends use of iPad name in Chinese court
Business Law Info |
2012/02/22 17:39
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Apple defended its right to use the iPad trademark in China in a heated court hearing Wednesday that pitted the electronics giant against a struggling company that denies it sold the mainland China rights to the tablet's name.
Shenzhen Proview Technology's lawyer Xie Xianghui argued that the sale of the iPad trademark to Apple Inc. by Proview's Taiwan affiliate in 2009 was invalid.
"Apple has no right to sell iPads under that name," Xie said. Apple countered that Proview violated the sales contract by failing to transfer the trademark rights in mainland China.
It also contends that the Chinese LCD maker has not marketed or sold its own "IPAD," or Internet Personal Access Device for years, thus possibly invalidating its claim to the trademark.
The hearing adjourned after a fractious four-hour session which saw the judge repeatedly admonishing both sides to observe proper court protocol as they argued across the courtroom. No date was announced for a judgment or further hearings.
Proview is suing to stop Apple selling the iPad in China under that name. It has also asked commercial authorities in many cities to stop sales of the device. So far, iPads have been pulled from shelves in some Chinese cities but there has been no sign of action at the national level. |
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Cisco challenges Microsoft takeover of Skype in EU
Business Law Info |
2012/02/15 20:52
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Networking company Cisco said Wednesday that it is challenging Microsoft's $8.5 billion takeover of Skype at the European Union's top court to ensure Microsoft won't block other video conferencing services.
Microsoft completed the deal in October shortly after the European Commission, the EU's competition regulator, cleared the takeover. Microsoft Corp. hopes that owning Skype will allow it to better compete with other tech giants including Apple Inc. or Google Inc.
But for Cisco Systems Inc., the world's largest maker of computer networking equipment, the Skype deal creates a serious challenger to its video conferencing systems.
"Cisco does not oppose the merger, but believes the European Commission should have placed conditions that would ensure greater standards-based interoperability," Marthin De Beer, the head of Cisco's video conferencing division, wrote in a blog post.
Video conferencing equipment is a relatively small part of Cisco's overall sales, but it's growing rapidly. Cisco's latest major acquisition was of Tandberg, a Norwegian maker of video conferencing equipment. Cisco spent $3.4 billion for the company in 2010. |
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Lehman Brothers sues Citigroup for $2.5B
Business Law Info |
2012/02/10 17:21
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Lehman Brothers Holdings Inc. and its creditors are suing several units of Citigroup Inc. to recover $2.5 billion the failed investment bank transferred to a backup account at Citi months before seeking bankruptcy court protection.
In the complaint filed on Wednesday with the U.S. Bankruptcy Court for the Southern District of New York, Lehman claims that Citibank is wrongfully withholding the money as a potential source of funds in a dispute over derivative contracts.
Lehman also is asking the court to disallow what it says are $2 billion of "inflated and legally unsupported" claims that Citibank has asserted against it.
In a statement Thursday, Citigroup vowed to defend itself and its right to recover losses from Lehman's collapse. It called the lawsuit unjustified and accused Lehman of trying to renege on its obligations and claw back assets to which it has no right.
According to the lawsuit, Citi demanded on June 12, 2008, that Lehman transfer between $3 billion to $5 billion into an account to cover potential overdrafts by Lehman subsidiaries that were using Citi's clearing and settlement services. |
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