Nortek and SDS Fight Over Failed Settlement

By: Dan Gelinas, Published on Jun 05, 2019

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

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

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

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

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***** *** ****** ********* 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:

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

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

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

Comments (1)

**** **** ** ****** like ******* ***** *******.

* **** ** ***** with Kirschenbaum's **** **** **** will ****** *** ***** resolved ****, ****** ***** a *** **** ***** back-and-forths **** *** ****** out ** $***/****.

Login to read this IPVM report.

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