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Tyco damages verdict cut 90%

June 08, 2007|From Bloomberg News

Tyco International Ltd. had a $140-million damages verdict reduced by 90% to $14.5 million in an antitrust lawsuit brought by Irvine-based Masimo Corp. over machines that measure blood oxygen levels.

U.S. District Judge Mariana Pfaelzer, in a ruling filed Wednesday in Los Angeles, awarded Masimo the damages for lost profit. Pfaelzer had thrown out the $140-million jury award in March 2006, saying it wasn't "sustainable by the proof," and held a nonjury trial in October to determine the amount of damages to which Masimo was entitled.

Closely held Masimo had argued during the March 2005 jury trial that Tyco's Nellcor unit used its market dominance to prevent hospitals from purchasing its rival's pulse oximeters, which measure oxygen levels in blood.

Masimo had sought as much as $256 million for lost sales between 1998 and 2001. Masimo spokesman Tom McCall didn't immediately return a call seeking comment.

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