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June 2013 Archives

U.S. wins large sum from United Technologies

Earlier this month, a U.S. judge handed down a ruling ordering United Technologies Corp to pay $473 million in damages to the U.S. Department of Justice plus interest. $109 million of the damages were in common law damages and $364 million were because UTX violated the False Claims Act. This ruling comes five years after the initial ruling where the judge found the company liable under the Act. The case was then appealed to the U.S. Court of Appeals in 2010 where the ruling was upheld and then remanded back to the judge to determine damages. UTX plans to file an appeal.

Video game company settles with Beyonce after broken contract

Virginia residents may be aware that a lawsuit between the famous singer Beyonce and a video game company has ended with a settlement. The video game company had alleged that the singer had a contract with them to create a motion-based dancing game. The video game company, Gate Five, filed a lawsuit, which stated that Beyonce had requested more compensation for the video game. The higher compensation demands were stated by Gate Five to have caused one investor to pull out of the project. The lack of financing allegedly forced Gate Five to let go of 70 employees.

Cirrus Vodka site to be auctioned

The Cirrus Vodka distillery located in Virginia will be auctioned in a foreclosure proceeding, and the sale is generating international interest. The property was renovated in 2010 as part of an effort for Cirrus to expand into new markets, but problems led to the distillery's foreclosure. Now, companies in Canada, Mexico and the United States have expressed interest in acquiring the property.

Smithfield merging with Chinese company

Fairfax residents may be interested to hear that a local food company, Smithfield Foods, Inc. merged with a meat-processing company in China. As is often the case with mergers and acquisitions , the merge will bring some serious changes to Smithfield Foods. Fortunately, this particular merger is expected to bring positive changes to Smithfield Foods.

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