Philadelphia Business Journal
Monday, July 7, 2008
Innovations Solutions & Support Inc. said Monday that a federal court has increased the amount awarded to it in a trade-secret misappropriation case to more than $23 million from more than $6 million.
The Exton, Pa., maker of monitoring and display equipment for aircraft said the United States District Court for the Western District of Tennessee awarded it damages, interest and fees in addition to the compensatory damages awarded by a jury in November 2007.
The defendants in the case are former IS&S (NASDAQ:ISSC) employee Joseph Caesar; former IS&S sales consultant James Zachary; J2 Inc., which Caesar and Zachary owned and founded; Zachary Technologies Inc., which Zachary owned and founded; and Merrimack, N.H.-based Kollsman Inc., the U.S. subsidiary of Elbit Systems Ltd., which is located in Haifa, Israel.
Elbit (NASDAQ:ESLT) said last Wednesday that Kollsman strongly believes that the court's rulings are neither supported by evidence nor by applicable law and that it intends to evaluate the options available to vigorously defend itself, including filing an appeal upon the entry of a final judgment in the case.
The court issued the rulings June 30, Elbit said.
