Orthofix
This article was originally published in The Gray Sheet
Executive Summary
Damages from company's successful breach of contract suit against Biomet's EBI subsidiary remain at $64 mil. following the U.S. Supreme Court's denial of Orthofix' petition to review a Third Circuit U.S. Court of Appeals decision that reduced punitive damages from $50 mil. to $1 mil. (1"The Gray Sheet" July 5, In Brief), firm announces Jan. 10. The $64 mil. total includes approximately $49 mil. in compensatory damages and $14.3 mil. in pre- and post-judgement interest. Orthofix expects to net approximately $40 mil. after legal fees and previously announced expenses