New York, NY
(May 25, 2012) - Paul Hastings, a leading global law firm, announced today that the Second Circuit Court of Appeals affirmed summary judgment and dismissal in favor of its client, Invensys plc, a UK-based technology group, in a long-running case arising from the sale of a business.
The dispute arose out of the sale of Invensys' packaging business to glass container manufacturer Owens-Illinois, Inc. in 1998 for approximately $3.6 billion. In 2005, Owens-Illinois, filed suit against Invensys claiming losses in connection with patent infringement lawsuits that were filed after the sale had taken place. Owens-Illinois claimed that Invensys had breached representations and warranties contained in the sales contract and was obligated to indemnify Owens-Illinois for all of the losses stemming from the patent infringement lawsuits.
Paul Hastings argued, among other things, that the losses arose from the post-closing conduct of Owens-Illinois, not from any conduct of Invensys. In June 2010, Judge Louis L. Stanton of the Southern District of New York agreed and granted summary judgment in favor of Invensys, dismissing the case in its entirety and awarding Invensys its costs. Owens-Illinois appealed the district courts ruling, and in a summary order issued on May 23, 2012, the Second Circuit affirmed Judge Stantons decision.
The appeal was argued by Barry Sher
. The Paul Hastings Litigation team included Appellate practice partner Stephen Kinnaird
, and Litigation associates Rebecca Myers
, Laura Isenberg
and Adam Braveman
Paul Hastings LLP is a leading global law firm with offices in Asia, Europe, and the United States. We provide innovative legal solutions to financial institutions and Fortune 500 companies. Please visit www.paulhastings.com for more information.