USI Holdings wins motion in copyright infringement case
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- April
- 9
USI Holdings Corp. of Briarcliff Manor, which is being sold to an affiliate of Goldman, Sachs & Co. for about $1.4 billion in cash, has won a round in a court fight over copyright infringement that could limit its damages in the case.
USI, a distributor of financial products and services, lost a jury trial when the plaintiff, William A. Graham Co., successfully argued that USI MidAtlantic Inc. and a former Graham employee used information from copyrighted insurance manuals to get insurance business.
The jury ruled that USI MidAtlantic owed $16.6 million and former employee Thomas P. Haughey owed $2.2 million.
In November, a judge ordered a second trial in the case.
Today, a federal court granted USI’s request to limit damages to a three-year period, rather than the 13-year period considered by the jury in the original trial. A date for the new trial has not been set.
USI expects to complete the transaction with the Goldman, Sachs affiliate by April 30.
This entry was posted
on Monday, April 9th, 2007 at 5:14 pm by Julie Moran Alterio.
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