Navigation Links
Lucas Bagnell Varga LLC Secures $17.4 Million Award For Former Applied Biosystems Executives

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

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:
(Date:11/30/2015)... ... November 30, 2015 , ... Imagine ... Jurassic World: The Exhibition, opening in March 2016 at Melbourne Museum in Melbourne, ... tour including several North American tour dates. The Exhibition is based on Universal ...
(Date:11/30/2015)... 30, 2015  Aytu BioScience, Inc. (OTCQB: AYTU), a ... conditions, will present at two upcoming investor conferences. Aytu ... real-time virtual conference, to be held December 3, 2015, ... be held December 2 nd & 3 rd ... and streamed live via webcast. Josh Disbrow ...
(Date:11/30/2015)... Israel , Nov. 30, 2015 ... leading developer of adult stem cell technologies for neurodegenerative diseases, ... has been awarded an additional grant of approximately $735,000 from ... (OCS). This grant, the second this year, brings the total ... $1.8 million (approximately NIS7 million).  ...
(Date:11/26/2015)... , November 26, 2015 /PRNewswire/ ... --> Accutest Research Laboratories, ... Contract Research Organization (CRO), has formed ... Cancer Center - Temple Health for ... ,     (Photo: ) , ...
Breaking Biology Technology:
(Date:11/4/2015)... York , November 4, 2015 ... a new market report published by Transparency Market Research "Home ... Growth, Trends and Forecast 2015 - 2022", the global home ... US$ 30.3 bn by 2022. The market is estimated ... forecast period from 2015 to 2022. Rising security needs ...
(Date:10/29/2015)... ARBOR, Mich. , Oct. 29, 2015 /PRNewswire/ ... Eurofins Genomics for U.S. distribution of its DNA ... DNA-seq kit and Rubicon,s new ThruPLEX Plasma-seq kit. ... to enable the preparation of NGS libraries for ... plasma for diagnostic and prognostic applications in cancer ...
(Date:10/27/2015)... October 27, 2015 Munich, ... Gaze Mapping technology (ASGM) automatically maps data from mobile ... Glasses , so that they can be quantitatively ... Munich, Germany , October 28-29, 2015. ... data from mobile eye tracking videos created with ...
Breaking Biology News(10 mins):