Attorneys for the owners had 10 days from the judgment date
to file the motion.
Under New York law, Cybex is responsible for payment of the judgment but will seek reimbursement from the co-defendant of approximately 21% of its payments on the judgment, which results in a net liability to Cybex, after insurance, of approximately $33 million plus interest at the annual rate of 9% which accrues on the modified judgment from the judgment date
00 per share on the Final Judgment Date
, then an additional one million (1,000,000) shares of MannKind common stock will be added to the Settlement Fund.
According to the judgment, the defendants have the right to go to the Appeal Court within a month of the judgment date
Attorneys for the New Carissa owners were required to file their motion to overturn the verdict or to ask for a new trial within 10 days of the judgment date
, Wheatley said.
Interest at the annual rate of 9% will accrue from the judgment date