Navigation Links
Lucas Bagnell Varga LLC Secures $17.4 Million Award For Former Applied Biosystems Executives
Date:12/6/2012

SOUTHPORT, Conn., Dec. 6, 2012 /PRNewswire/ --  A three-member panel of the American Abritration Association today awarded former executives of Applied Biosystems, Inc., f/k/a Perkin Elmer Corporation, $17.4 million in unpaid change in control benefits from Life Technologies Corporation, one of the world's largest biotechnology companies. (NASDAQ:   LIFE).  The case was presented to a former federal judge, former state judge and a senior member of the Connecticut Bar over a period of two years.  According to the claim of the executives, the incentive compensation became due from Life Technologies Corporation when it assumed the obligations of the executives' employment agreements after acquiring Applied Biosystems, Inc. in November 2008.  Life Technologies argued the executives were misreading their agreements and were not entitled to continued stock-based benefit awards.   

In finding for the executives, the arbitration Panel held the agreements were breached as "the Company made no effort to provide [the claimed benefits], and the Claimants are entitled to them."  "We are very pleased with the outcome, and are happy our clients will finally receive these sums which they earned and are long overdue," said Scott Lucas, lead trial counsel for the executives.  "Consultants from Citrin Cooperman were instrumental in helping us present our clients' complex damages claim to the Panel," added Jeff Bagnell, who handled the damages aspect of the case at trial. 

The executives were represented by Lucas Bagnell Varga LLC in Southport, Connecticut.  Life Technologies was represented by DLA Piper.

Media Contact:
Jeff Bagnell
1-203-227-8400
jbagnell@lbv-law.com


'/>"/>
SOURCE Lucas Bagnell Varga LLC
Copyright©2012 PR Newswire.
All rights reserved

Page: 1

Related biology technology :

1. Modern Mobility Aids, Inc. Secures Financing to Close Acquisition Agreement of LumiGene Technologies
2. A New Type of Dendritic Cell-Based Cancer Vaccine has Received Approval for Clinical Tests and at the Same Time Secures Substantial Financing
3. Roka Bioscience Secures $47.5 Million in Series D Financing
4. Generex Secures Commitments for $3.6M Capital Raise
5. PharmAthene Secures $7.5 Million Credit Facility From GE Capital, Healthcare Financial Services
6. Insmed Secures $20 Million Loan Agreement With Hercules Technology Growth Capital
7. Bacterin Secures $25 Million Financing with OrbiMed
8. OncoSec Secures License for Electroporation Intellectual Property from University of South Florida
9. Aviir Diagnostic Laboratories Secures $8 Million In Funding From Silicon Valley Bank
10. Syngenta Secures EU Approval For Next Generation Fungicide
11. Amarantus BioSciences Secures $1.1 Million in Financing
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:7/10/2014)... can sit upside down forever. Nanophysics makes sure of that. ... article just published in Physical Review E . Knowledge ... spiders that seem to be able to sit still forever, ... many years. We will soon be able to buy smart ... foot. But the fact is, sooner or later the grip ...
(Date:7/10/2014)... the University of Illinois at Urbana-Champaign provides new ... of spin and heat at the nanoscale, and ... for data storage and information processing. , ... momentum. In a typical charge current, electrons, spin-angular-momentum ... explained David Cahill, a professor of materials science ...
(Date:1/15/2014)... an approach akin to assembling a club sandwich ... Technology (NIST) researchers have succeeded in crafting a ... flammability of foam commonly used in upholstered furniture ... the nanotube-coated polyurethane foam was reduced 35 percent ...
(Date:1/15/2014)... 15, 2014  Bill Jacobs Automotive, a group of car dealerships ... with the Heartland Blood Center and offering free oil change ... takes place Saturday, Jan. 18 at the Bill Jacobs Cadillac ... (Photo: http://photos.prnewswire.com/prnh/20140115/MN46637 )  The Bill ...
Breaking Biology Technology:Even geckos can lose their grip 2University of Illinois study advances limits for ultrafast nano-devices 2Layered security: Carbon nanotubes promise improved flame-resistant coating 2Join the Bill Jacobs Auto blood drive and receive a free oil change 2
... 8, 2011 Quest Diagnostics joined the American Cancer ... the American Cancer Society,s historic Cancer Prevention Study - ... longitudinal study is between November 8 and 19, 2011. ... and genetic factors that influence cancer risk by following ...
... 2011 Accuray Incorporated (Nasdaq: ARAY), the ... results for the first quarter of fiscal 2012 that ... 2011, Accuray completed the acquisition of TomoTherapy. As a ... consolidation of both Accuray and TomoTherapy.  Non-GAAP results are ...
... YORK, Nov. 8, 2011 Reportlinker.com announces ... available in its catalogue: ... Suppliers http://www.reportlinker.com/p0681961/Genomic-Technologies-Market-Insights-for-Life-Science-Suppliers.html#utm_source=prnewswire&utm_medium=pr&utm_campaign=Genomics ... Genomic Technologies: Market Insights for Life Science ...
Cached Biology Technology:Quest Diagnostics Encourages Denver Area Residents to Enroll in Historic American Cancer Society Prevention Study November 8th - 19th 2Quest Diagnostics Encourages Denver Area Residents to Enroll in Historic American Cancer Society Prevention Study November 8th - 19th 3Accuray Announces Results for First Quarter Fiscal 2012 2Accuray Announces Results for First Quarter Fiscal 2012 3Accuray Announces Results for First Quarter Fiscal 2012 4Accuray Announces Results for First Quarter Fiscal 2012 5Accuray Announces Results for First Quarter Fiscal 2012 6Accuray Announces Results for First Quarter Fiscal 2012 7Accuray Announces Results for First Quarter Fiscal 2012 8Accuray Announces Results for First Quarter Fiscal 2012 9Accuray Announces Results for First Quarter Fiscal 2012 10Accuray Announces Results for First Quarter Fiscal 2012 11Genomic Technologies: Market Insights for Life Science Suppliers 2Genomic Technologies: Market Insights for Life Science Suppliers 3
(Date:7/10/2014)... NXT-ID, Inc., (OTCQB: NXTD) a biometric authentication company focused on ... Pereira was interviewed on July 1 st on ... . Mr. Pereira discusses the company,s next generation smart ... how the Wocket™ aims to replace a traditional wallet with ... Harris tells Gino he has never heard of the ...
(Date:7/10/2014)... Sweden , July 8, 2014 ... has won a new design win (DW). An Asian OEM ... date for mass production start in August 2014.   ... Asian smartphone OEM, which has a planned date for start ... an initial ramp order of SEK 5M, for delivery in ...
(Date:7/10/2014)... An international team ... step of photosynthesis in action for the first time. The ... used the world,s most powerful X-ray flashlight at the US ... molecular complex called photosystem II as it splits water into ... earth,s atmosphere. The researchers report their results in the scientific ...
Breaking Biology News(10 mins):Security and Your Money: Tampa Bay Radio Host Cedric Harris Talks to NXT-ID CEO Mr. Gino Pereira about the Wocket Smart Wallet 2Security and Your Money: Tampa Bay Radio Host Cedric Harris Talks to NXT-ID CEO Mr. Gino Pereira about the Wocket Smart Wallet 3Security and Your Money: Tampa Bay Radio Host Cedric Harris Talks to NXT-ID CEO Mr. Gino Pereira about the Wocket Smart Wallet 4FPC Wins DW and Initial Ramp Order for FPC1021 Touch Sensor for Flagship Smartphone from Asian OEM 2Scientists watch photosynthesis in action 2Scientists watch photosynthesis in action 3
... Calif.) The National Institutes of Health (NIH) has ... chemistry, and biology researchers to develop a highly efficient ... technology provides an entirely new method of discovering and ... of applications, including next-generation disease diagnosis at the point ...
... ongoing destruction of specific neurons within the brain. It affects ... to involuntary movement and loss of muscle co-ordination. New ... Neurodegeneration shows that the RyanR inhibitor Dantrolene is able ... a mouse model of HD. Progressive damage to ...
... the final weeks before delivery is tough for any pregnant ... extreme physical changes that accompany the later stages of pregnancy. ... gait change such as a change in stride length ... Intrigued by the ways that newborn dolphins learn to swim ...
Cached Biology News:Researchers awarded $3.2 million from NIH to pioneer advanced biomolecule discovery technology 2Researchers awarded $3.2 million from NIH to pioneer advanced biomolecule discovery technology 3Pregnancy is a drag for bottlenose dolphins 2
... Throughput Processing of Microarrays Using the New ... multiple slide plate is designed to hold ... multi-well incubation chambers in a microplate footprint ... footprint dimensions meet the standards recommended by ...
fully automated system for the processing of microarrays on microscope slides...
... use spatulas have been designed to save ... for those interested in eliminating the recycling ... spatula is individually packaged, RNase/DNase free, non-pyrogenic ... a new product number, created to easily ...
... use spatulas have been designed to save ... for those interested in eliminating the recycling ... spatula is individually packaged, RNase/DNase free, non-pyrogenic ... a new product number, created to easily ...
Biology Products: