Correction on court structure in my comment above:
The October appeal was heard by: "Appellate Division, Fourth Judicial Department, of the Supreme Court of the State of New York".
Cybex is appealing again to: "Court of Appeals of the State of New York" Their website is here: http://1.usa.gov/vsj01l . I don't see any mention of the case in their docket as of yet.
Cybex has indicated that they will immediately appeal again to the NY state supreme court.
To be clear, there was an insane jury decision with an unprecedented award amount. Then the NY State appeals court ruled as described above (upheld decision, and reduced award by a third). Cybex is now appealing again to the NY State *supreme* court, and will hear back within 60 days whether they will hear the case.
At this point, it's a long shot for Cybex; so my article assumes that the decision (with appeals court reduction) will stand. But there is still a reasonable possibility that Cybex will get more relief from the NY state supreme court; or through a settlement (possibly a structured settlement) with the plaintiff.
I'm hoping for a decision or settlement that covers this poor injured woman's actual needs, while letting Cybex continue to turn out its excellent, safe, fitness products. The market needs to see a resolution and financial structuring by which Cybex can manage its new burden.
Another Look At Cybex [View article]
The October appeal was heard by:
"Appellate Division, Fourth Judicial Department, of the Supreme Court of the State of New York".
Cybex is appealing again to:
"Court of Appeals of the State of New York"
Their website is here: http://1.usa.gov/vsj01l .
I don't see any mention of the case in their docket as of yet.
Another Look At Cybex [View article]
To be clear, there was an insane jury decision with an unprecedented award amount. Then the NY State appeals court ruled as described above (upheld decision, and reduced award by a third). Cybex is now appealing again to the NY State *supreme* court, and will hear back within 60 days whether they will hear the case.
At this point, it's a long shot for Cybex; so my article assumes that the decision (with appeals court reduction) will stand. But there is still a reasonable possibility that Cybex will get more relief from the NY state supreme court; or through a settlement (possibly a structured settlement) with the plaintiff.
I'm hoping for a decision or settlement that covers this poor injured woman's actual needs, while letting Cybex continue to turn out its excellent, safe, fitness products. The market needs to see a resolution and financial structuring by which Cybex can manage its new burden.
Another Look At Cybex [View article]
Cybex's Fate In The Balance: The Asymmetry Of Crisis Investing [View article]
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