NuVasive Announces $30M Unfavorable Jury Verdict for Use of Trade-Name 'NeuroVision' 8-K
On April 3, 2014, an unfavorable jury verdict was delivered against NuVasive (NASDAQ: NUVA), relating to NuVasive's use of the trade name “NeuroVision” in the amount of $30.0 million. NuVasive strongly disagrees with the verdict and intends to vigorously defend its right to use the “NeuroVision” trademark. The Company intends to file post-trial motions in the U.S. District Court for the Central District of California (the “District Court”) seeking judgment as a matter of law, and, in the alternative, a new trial. If necessary, the Company intends to appeal the verdict to the Ninth Circuit Court of Appeals (the “Circuit Court”). In the event NuVasive's post-trial motions are denied and judgment is ultimately entered by the District Court, any payment of damages per the judgment will be stayed pending resolution of the appeals process (which could take up to two years).
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