Nortek and SDS Fight Over Failed Settlement

By Dan Gelinas, Published Jun 05, 2019, 12:24pm EDT (Info+)

Distributor SDS said they reached a deal with Nortek but Nortek says no settlement was reached and the suit is still on.

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In this post, based on our talks with counsel for both the Plaintiff and the Defendant, we examine the following:

  • What counsel for the Defendant SDS alleges
  • What counsel for the Plaintiff Nortek alleges
  • What industry attornies say
  • What next steps are

What ******* *** *** ********* *** *******

** *** **********-******* ******* ****** ***** ******* ***, *** **** **** ******'* ******* contacted *** ******* *** **** **** Nortek ***** **** *** ***** ** interest, ********, *** **** *** ******* the ****** ** *** **** *** balances ***—$***,***+, ** **** ** *** following *****, ******** ** ***:

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******* *** **** **** ****** ** the *****, ***** **** ****** ** a ********** *********, *** **** *** balances *** (*** ******** **** **** the ******** *** **** ******/****** (******* *********** *) ********* ** ***** **), ** **** ** *** ********* email, ***** ******** ** ***:

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*******, *** **** **** **** ****** Nortek ******** ******* ****** **** *** parties *** *** ******* **** * settlement ********* *** **** *** **** was ***** **********, ** **** ** the ********* ***** ******** ** ***:

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***** *** ****** ********* ********** ******* that **** *** *** *****, ** we ****** ** ******* ** ******.

What ******* *** *** ********* ****** *******

****** ******* **** **** ***** *** offer *** ****, ** ***** ********* was *******, ******** **** *** ************** with ** *** *** ****** *** in-stock ****** ***********—** ***** **** *** not ********. ****** ******* ****** *** counteroffer ********* *** ******** ***** *** the ****, *** **** *** ****, and ******** ** ***** *******.

*******, ****** ******* **** *** **** issue ** *** **** *** ***** still **** *** *** ***** ******* paid, *** **** * ***** ********* on *******—*** ** ****** ** **** and **** *** *** ***** ***** to *** **********:

*** ******** *** **** **** *** left *** *** **** **** *****, but *** ****** ***** ** **** we **** ** **** ** ** agreement **** ** ******** **** *** money ** ****. ** **** *** money *** **'** *** ***** ** dismiss ******* ********* *** *** **** have ** ***** **** ** ***** and ********** **** ** **** **** money.

****** ******* **** **** ******* * final ********* ** *** *** ******* like ********* **** **. ******* *********, SDS ***** **** * ********** ****** in *** ***** ****** (*** **** ****** *** *** ********** Wave *** ********* ************ **** *** **** **** ** still *******, ****** **** ******* ** Texas ** ******* ************), ******** **** do *** ******* **** **** *** money ** *** ***** *****.

What ******** ********* ***

******* ****** *** **** ** ***** ** atypical *** ** ******** ** ******** a ********** ********* ******* ******* ***** agreeing ** ****** **** ********* **** vs. ******* *********. **** ***** ******** to ****** *******'* ****** **** * final ********* *** *** *******, ********** of ******** ****.

*** ************** ************ & ************ ** **** that ***** *** ******** **** ****, regardless ** ******* ** *** **** were **** ****** * **** ********** agreement *** *******, ** ** ****** that *** **** **** ** ******** soon:

*** ***** ***** ** ************ *** settlement ******* *** ******** *** *** other **** ******** *** *******. ****'* called****** *** ************. *** ***** **** **** **** settle ** ***** *** ******* *** accepted.

What ******* ****** *** **** ***** ***

** ***** *** *** ** **** they **** **** **** **** **** are **** *** ****** ***** **** are ** ****** ********** ** **** since ****** ****** *** ***** **** them ***** *** ****** ** *** antitrust ****. *** ******, **** ** not **** ** **** ** ****** the ***** *** ******* **** *** so *** ********* ** ****** ******* a ****** *** ***** ******* **** details ********* **** *********.

****** ******* **** *** ****** ******* pending:

*** ******* **** ********* ** ******* the ******* *********** ** ********** *** Texas ******* ***** ** ****** ******. Offers *** *******-****** **** ********* ** the ********** ****** *** *** *** pay ******* *********** ******** ***** *** been ********* ** ******, *** *** would *** ***** ** *** ******** for * ******** ******* ** ******* judgment ** ******* **** ******. ** that ****** ******* *******.

****** ******* ***** **** **** ***** "have **** ******* ** * ******* judgment *** ** ****** ** ** paid ** ******* *** ********** ****. So, ** ** ****** **** ** will *** *** ********** **** ********."

*********** ********* / ******* ****** ***** *** ***** ******* **** Nortek *** **** ** ***** ***** actively ******* ** ***, ******* ********* from ****** ** ******* **** ****** with *** ***-******* ***** ** * global ********** ** *** ********** ******* the *** ******* **** ** *** toward ******** *** **** ** * distributor:

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***** *** ******* ****** **** ***, it ** ******** **** *** ******* will **** **** *** ***** ***** old ************.

*** ******'* ****, ******* **** * June ******* ** * ****** **** Nortek ** ******* ***** ***** **** to ******* ***** *********:

** *** ***** ****, * ******* on ******’* ****** ** ******* *** been *** *** ***-****, *** ** look ******* ** *** *********** ** present *** ********* ** *** ***** then.

Comments (1)

This kind of sounds like lawyers being lawyers.

I tend to agree with Kirschenbaum's take that this will likely get fully resolved soon, likely after a few more email back-and-forths that are billed out at $400/hour.

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