Flextronics & Beckman Coulter close to settlement:
This article was originally published in Clinica
Executive Summary
Press reports indicate that Beckman Coulter and Flextronics International are close to agreeing terms of a settlement in their dispute over circuit boards. The two companies met in a California superior court where the judge has been asked to consider motions for a retrial or a setting aside of the verdict that ordered the Singapore-based electronics group to pay the Fullerton, California-based lab instrument maker $934m in damages for breach of contract (see Clinica No 1078, p 15). Flextronics argued that it should not pay more than $10m. The court hearing was postponed while the two sides negotiated. If Flextronics is forced to case to appeal, it is possible it may have to post up to $1.4bn in bail.