A new judgment has taken the fizz out of a monster case involving PepsiCo.
A new judgment hastaken the fizz out of a monster case involving PepsiCo.
The cost of notshowing up to court, Pepsi found this week, is a not-so-sweet $1.26 billion.
A Wisconsin statecourt shocked the company with the award in a case alleging that PepsiCo stolethe idea to bottle and sell purified water from two local men.
Now Pepsi is scramblingto salvage the situation, saying it was not aware of the lawsuit until 6October, after the damages award was handed down on 30 September. Pepsi filedmotions to vacate the order and dismiss the claims on 13 October.
The litigation kickedof in April this year when two Wisconsin men, Charles Joyce and James Voigt,sued the soft drink maker and two of its distributors, alleging they hadmisappropriated trade secrets from confidential discussions the plaintiffs hadwith the distributors in 1981 about bottling and selling purified water.
Pepsi spokespersonJoe Jacuzzi has labelled the case “highly dubious”, the National Law Journalreports.