Terex Issues Statement on Patent Infringement Judgment
Terex Corporation (NYSE: TEX) previously disclosed an adverse jury verdict and injunction in a patent infringement lawsuit brought against Powerscreen International Distribution Limited (“Powerscreen”) and Terex Corporation by Metso Minerals Inc. in United States District Court for the Eastern District of New York.
On December 9, 2011, a final judgment in support of the adverse jury verdict was issued. The Court's most recent ruling is in line with the Company's expectations with regard to the damages award in this case. These types of patent cases are complex and the Company strongly believes that the judgment is contrary to both the law and the facts. Accordingly, Terex and Powerscreen will be appealing the judgment and the related injunction and believe that they will ultimately prevail on appeal.
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