Successor companies are held liable for $8 million default judgment

09/3/2010 | National Law Journal (free registration), The

The U.S. Court of Appeals for the Federal Circuit has ruled that two Daewoo entities can rightfully be ordered to pay a more than $8 million default judgment stemming from a patent-infringement suit against their predecessor firms. The decision held Daewoo's U.S. subsidiary liable under New Jersey successor-liability law, on the reasoning that while incorporated in Florida, the company has its headquarters in New Jersey.

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National Law Journal (free registration), The

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