SPX wins $44 million judgment against Snap-on
KENOSHA, Wis. (Jan. 3, 2002) — An arbitrator has ruled in favor of SPX Corp. in its long-standing patent infringement litigation with Snap-on Inc., requiring Snap-on to pay $44 million US in damages for infringement of SPX patents.
The arbitration relates to a complaint that Snap-on filed in April 1996 against SPX alleging infringement of certain Snap-on patents and asserting claims relating to SPX’s hiring of the former president of Sun Electric, acquired by Snap-on in 1992. SPX filed a counterclaim alleging infringement of certain SPX patents. The patents in question have since expired.
The companies had both agreed to binding arbitration and the case went into review in October 2001.
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