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Thread: Price to PepsiCo for Not Being in Court: $1.26 Billion

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    Price to PepsiCo for Not Being in Court: $1.26 Billion

    Price to PepsiCo for Not Being in Court: $1.26 Billion - Yahoo! Finance

    What's the cost of not showing up to court? For PepsiCo Inc., it's a $1.26 billion default judgment. A Wisconsin state court socked the company with the monster award in a case alleging that PepsiCo stole the idea to bottle and sell purified water from two Wisconsin men.

    Now the company is scrambling to salvage the situation. The damages award was handed down on Sept. 30. PepsiCo filed motions to vacate the order and dismiss the claims on Oct. 13, saying it wasn't even aware of the lawsuit until Oct. 6.
    And you thought YOUR company's bureaucracy was bad.
    Last edited by Kandahar; 10-28-09 at 08:11 PM.
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    Re: Price to PepsiCo for Not Being in Court: $1.26 Billion

    Quote Originally Posted by Kandahar View Post
    Price to PepsiCo for Not Being in Court: $1.26 Billion - Yahoo! Finance



    And you thought YOUR company's bureaucracy was bad.
    Oh dear G_d

    How do you not know you're being sued?
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    Re: Price to PepsiCo for Not Being in Court: $1.26 Billion

    According to the article:

    In court papers, PepsiCo claims it first received a legal document related to the case from the North Carolina agent on Sept. 15 when a copy of a co-defendant's letter was forwarded to Deputy General Counsel Tom Tamoney in PepsiCo's law department. Tamoney's secretary, Kathy Henry, put the letter aside and didn't tell anyone about it because she was "so busy preparing for a board meeting," PepsiCo said in its Oct. 13 motion to vacate.

    That's gotta be up there as one of the most costly mistakes a secretary has ever made.
    Last edited by Kandahar; 10-28-09 at 09:17 PM.
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    Re: Price to PepsiCo for Not Being in Court: $1.26 Billion

    Quote Originally Posted by Kandahar View Post
    According to the article:




    That's gotta be up there as one of the most costly mistakes a secretary has ever made.
    No No. It just doesn't work that way. It's can't work that way. Why would it work that way...
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    Re: Price to PepsiCo for Not Being in Court: $1.26 Billion

    Quote Originally Posted by Arch Enemy View Post
    No No. It just doesn't work that way. It's can't work that way. Why would it work that way...
    Depressingly, that's exactly how it works.

    Some more details of the ****ups:

    A Series of Unfortunate Events Leads to $1.26 Billion Judgment - Law Blog - WSJ

    Another breakdown, according to the AmLaw story: Lawyers for PepsiCo distributors Wis-Pak Inc. and Carolina Canners Inc. made court appearances in June and July. PepsiCo was at a loss to explain why it hadn’t heard about the case from them. “It’s just another unfortunate thing that didn’t come together,” Jacuzzi said.

    In seeking to dismiss the case, PepsiCo argues that the statute of limitations should preclude the lawsuit. Furthermore, “the $1.26 billion judgment that has been entered is unprecedented in size and justice requires that PepsiCo have a chance to defend itself,” the company said.

    The lead plaintiffs lawyer, David Van Dyke of Chicago-based Cassiday Schade, told the National Law Journal that Wisconsin courts have been “pretty clear that they don’t like” vacating default judgments. “There is a possibly that a judge may say we’re going to litigate the damages aspect of it,” Van Dyke said.
    I'd be surprised if the ruling stands. Setting aside the sheer enormity of it, the statute of limitations argument looks pretty good. The plaintiffs filed suit in April of 2009, arguing that Pepsi stole the idea that they had given them in 1981.
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    Re: Price to PepsiCo for Not Being in Court: $1.26 Billion

    I can't believe we're actually discussing who invented bottled water-- Only in America.
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    Re: Price to PepsiCo for Not Being in Court: $1.26 Billion

    I would bet that this will be 0ver turned. It was awarded only because they failed to show and if they can show it was because of malpractice they have a good case to get it thrown out. They have plenty of money to fight it with.

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    Re: Price to PepsiCo for Not Being in Court: $1.26 Billion

    Look at the statue of limitations. It is suprising that the judge didn't just dismiss this outright.
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    Re: Price to PepsiCo for Not Being in Court: $1.26 Billion

    Quote Originally Posted by Arch Enemy View Post
    I can't believe we're actually discussing who invented bottled water-- Only in America.
    LOL No kidding. Especially since bottled water has been around for a couple hundred years.

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    Re: Price to PepsiCo for Not Being in Court: $1.26 Billion

    Quote Originally Posted by RightinNYC View Post
    Depressingly, that's exactly how it works.

    Some more details of the ****ups:

    A Series of Unfortunate Events Leads to $1.26 Billion Judgment - Law Blog - WSJ



    I'd be surprised if the ruling stands. Setting aside the sheer enormity of it, the statute of limitations argument looks pretty good. The plaintiffs filed suit in April of 2009, arguing that Pepsi stole the idea that they had given them in 1981.

    Unfortunate my ass!

    Pepsi failed to show up for court and they can live with the consequences.

    It's called thief's justice.

    Learn to like it.

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