real-time news and commentary for investors
Thursday, Dec 13
2012, 5:12 PM
NuVasive (NUVA) says it's obtained the release of $62.5M from a restricted escrow account in...
NuVasive (NUVA) says it's obtained the release of $62.5M from a restricted escrow account in relation to the reversal of a decision in it's trademark dispute regarding the NeuroVision trade name. In January 2011, an unfavorable judgment was entered against NUVA in the amount of $60M plus attorney fees and costs, for which it subsequently transferred $62.5M into a restricted escrow account to secure the judgment. The plaintiff has not appealed, thus enabling the company to secure the release of the funds.