Nortek and SDS Fight Over Failed Settlement

By Dan Gelinas, Published Jun 05, 2019, 12:24pm EDT

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

IPVM Image

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 ******* *** *** ********* *** *******

** *** **********-******* ******* ****** ***** against ***, *** **** **** Nortek's ******* ********* *** counsel *** **** **** Nortek ***** **** *** claim ** ********, ********, and **** *** ******* the ****** ** *** paid *** ******** ***—$***,***+, as **** ** *** following *****, ******** ** SDS:

IPVM Image

******* *** **** **** agreed ** *** *****, which **** ****** ** a ********** *********, *** paid *** ******** *** (and ******** **** **** the ******** *** **** Brands/Linear (******* *********** *) ********* ** ***** **), ** **** ** the ********* *****, ***** provided ** ***:

IPVM Image

*******, *** **** **** even ****** ****** ******** payment ****** **** *** parties *** *** ******* into * ********** ********* and **** *** **** was ***** **********, ** seen ** *** ********* email ******** ** ***:

IPVM Image

***** *** ****** ********* settlement ******* **** **** was *** *****, ** we ****** ** ******* of ******.

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

****** ******* **** **** while *** ***** *** made, ** ***** ********* was *******, ******** **** SDS ************** **** ** ask *** ****** *** in-stock ****** ***********—** ***** IPVM *** *** ********. Nortek ******* ****** *** counteroffer ********* *** ******** offer *** *** ****, now **** *** ****, and ******** ** ***** ongoing.

*******, ****** ******* **** the **** ***** ** not **** *** ***** still **** *** *** money ******* ****, *** also * ***** ********* on *******—*** ** ****** up **** *** **** are *** ***** ***** to *** **********:

*** ******** *** **** that *** **** *** not **** **** *****, but *** ****** ***** is **** ** **** to **** ** ** agreement **** ** ******** owed *** ***** ** paid. ** **** *** money *** **'** *** going ** ******* ******* prejudice *** *** **** have ** ***** **** in ***** *** ********** that ** **** **** money.

****** ******* **** **** without * ***** ********* on *** *** ******* like ********* **** **. without *********, *** ***** file * ********** ****** in *** ***** ****** (*** **** ****** *** SDS ********** **** *** antitrust ************ **** *** **** case ** ***** *******, having **** ******* ** Texas ** ******* ************), claiming **** ** *** believe **** **** *** money ** *** ***** place.

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

******* ****** *** **** ** would ** ******** *** an ******** ** ******** a ********** ********* ******* without ***** ******** ** things **** ********* **** vs. ******* *********. **** lends ******** ** ****** counsel's ****** **** * final ********* *** *** reached, ********** ** ******** made.

*** ************** ************ & ************ PC **** **** ***** the ******** **** ****, regardless ** ******* ** not **** **** **** before * **** ********** agreement *** *******, ** is ****** **** *** case **** ** ******** soon:

*** ***** ***** ** effectuating *** ********** ******* the ******** *** *** other **** ******** *** payment. ****'* ************ *** ************. *** ***** **** make **** ****** ** since *** ******* *** accepted.

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

** ***** *** *** is **** **** **** said **** **** **** are **** *** ****** stock **** *** ** longer ********** ** **** since ****** ****** *** lines **** **** ***** the ****** ** *** antitrust ****. *** ******, they ** *** **** to **** ** ****** the ***** *** ******* paid *** ** *** unwilling ** ****** ******* a ****** *** ***** release **** ******* ********* with *********.

****** ******* **** *** matter ******* *******:

*** ******* **** ********* to ******* *** ******* litigations ** ********** *** Texas ******* ***** ** recent ******. ****** *** counter-offers **** ********* ** the ********** ****** *** SDS *** *** ******* outstanding ******** ***** *** been ********* ** ******, but *** ***** *** agree ** *** ******** for * ******** ******* or ******* ******** ** resolve **** ******. ** that ****** ******* *******.

****** ******* ***** **** both ***** "**** **** working ** * ******* judgment *** ** ****** to ** **** ** resolve *** ********** ****. So, ** ** ****** that ** **** *** the ********** **** ********."

*********** ********* / ******* case** ***** *** ***** damages **** ****** *** Wave ** ***** ***** actively ******* ** ***, despite ********* **** ****** to ******* **** ****** with *** ***-******* ***** in * ****** ********** to *** ********** ******* the *** ******* **** an *** ****** ******** SDS **** ** * distributor:

IPVM Image

***** *** ******* ****** from ***, ** ** unlikely **** *** ******* will **** **** *** renew ***** *** ************.

*** ******'* ****, ******* said * **** ******* on * ****** **** Nortek ** ******* ***** allow **** ** ******* their *********:

** *** ***** ****, a ******* ** ******’* motion ** ******* *** been *** *** ***-****, and ** **** ******* to *** *********** ** present *** ********* ** the ***** ****.

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.

Agree
Disagree
Informative
Unhelpful
Funny
Read this IPVM report for free.

This article is part of IPVM's 7,092 reports and 940 tests and is only available to members. To get a one-time preview of our work, enter your work email to access the full article.

Already a member? Login here | Join now
Loading Related Reports