Court awards ADT Ltd. $100 million
Created: Dec 08, 1995 10:00 AM
damages, plus interests and costs, the company said.The award, made by the High Court of Justice in the UK, is related to ADT's 1990 acquisition of Britannia Security Group Plc.
damages, plus interests and costs, the company said.
The award, made by the High Court of Justice in the UK, is related to ADT's 1990 acquisition of Britannia Security Group Plc.
In 1992, ADT began legal action against Binder Hamlyn, formerly BDO Binder Hamlyn, Britannia's former auditor, seeking recovery of damages after determining the goodwill arising on the acquisition had been damaged, Bloomberg Business News said on Wednesday.
No order has yet been made by the court concerning damages payment to ADT, the company said.
ADT, an electronic security services and vehicle auction services company, said that defendants will be appealing the judgement.