Jury orders L-3 to pay OSI Systems $125.6m
NEW YORK--On May 25, in U.S. District Court in Manhattan, a jury awarded OSI Systems, a manufacturer of security scanners based in Hawthorne, Calif., $125.6 million in compensatory and punitive damages, resulting from a lawsuit brought against L-3 Communications, a manufacturer of security products and provider of intelligence, surveillance and reconnaissance systems. OSI successfully argued that L-3 "engaged in malice, oppression or intentional fraud as the two companies sought to acquire a third company, PerkinElmer Security Detection Systems," in 2000, the Associated Press reported.
In a statement, L-3 Communications said, "The company believes this verdict and the damages awarded are inconsistent with the law and evidence presented. The company intends to move to have the verdict set aside and, if necessary, to appeal."