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Hughes Tool Co

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BUSINESS
April 26, 1986 | LESLIE BERKMAN
Hughes Tool Co. of Houston filed an appeal Friday, seeking to increase the $204.6-million judgment it was awarded last month in its patent-infringement lawsuit against Irvine-based Smith International Inc. Smith already has filed its own appeal, claiming that the award--determined by U.S. District Judge Harry L. Hupp--is too large. Both Smith's appeal and Hughes' cross appeal will be heard by the U.S. Court of Appeals for the Federal Circuit in Washington.
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BUSINESS
December 12, 1986
Hughes Tool Co. has scheduled a special stockholders meeting for Jan. 28 to approve its proposed $1.2-billion merger with Orange-based Baker International Corp. Stockholders of record at Houston-based Hughes Tool will be entitled to vote on the merger of the two oil services firms.
BUSINESS
June 6, 1987 | LESLIE BERKMAN, Times Staff Writer
Baker Hughes and Smith International agreed Friday to settle a 14-year-old patent infringement case for $95 million, less than half the $204.6 million that Smith originally had been ordered to pay by a federal judge. The initial judgment was won by Hughes Tool Co., a bitter competitor of Irvine-based Smith.
BUSINESS
June 12, 1986
Hughes Tool Co., as expected, is appealing its May 5 removal from Smith International Inc.'s creditors' committee, according to documents filed Tuesday in Los Angeles federal court. U.S. Bankruptcy Judge James R. Dooley had removed Hughes from the committee, even though the Houston-based company is Smith's largest unsecured creditor.
BUSINESS
May 21, 1986
Hughes Tool Co. has filed an appeal of a federal bankruptcy judge's decision to remove it from a creditors' committee overseeing the bankruptcy reorganization of Smith International Inc. U.S. Bankruptcy Judge James R. Dooley said Hughes' participation on the committee would create a potential conflict of interest because Houston-based Hughes and Newport Beach-based Smith are direct competitors in the oil-field equipment market. Hughes attorney David Toy said that in its appeal to the U.S.
BUSINESS
February 14, 1986 | JANE APPLEGATE, Times Staff Writer
In a move that could potentially save Smith International Inc. about $100 million in damages stemming from a critical patent-infringement suit, a Los Angeles federal court judge Thursday apparently rejected Hughes Tool Co.'s claim for lost profits. A claim for profits that Hughes would have earned if Smith had not infringed upon one of its patents is part of the $1.2 billion in damages Hughes is seeking from the Newport Beach oil services and equipment company.
BUSINESS
June 6, 1987 | LESLIE BERKMAN, Times Staff Writer
Baker Hughes and Smith International agreed Friday to settle a 14-year-old patent infringement case for $95 million, less than half the $204.6 million that Smith originally had been ordered to pay by a federal judge. The initial judgment was won by Hughes Tool Co., a bitter competitor of Irvine-based Smith.
BUSINESS
March 5, 1987 | LESLIE BERKMAN, Times Staff Writer
Hughes Tool Co. terminated its proposed $1.2-billion merger with Baker International Corp. late Wednesday after failing to negotiate a last-minute plan to overcome Justice Department antitrust objections. Orange-based Baker immediately marched into a state court in Houston and filed a lawsuit against Hughes and certain of its directors, demanding that the ailing oil services company be forced "to live up to its deal," said Baker President James D. Woods.
BUSINESS
April 4, 1987 | LESLIE BERKMAN, Times Staff Writer
The much-delayed merger of Baker International and Hughes Tool was formally completed Friday, creating a new company with more than $2 billion in annual revenue and a leadership position in the manufacture of oil drilling equipment. The $1.2-billion stock swap is meant to improve the fortunes of both companies in the current downturn of the oil service industry.
BUSINESS
March 5, 1987 | LESLIE BERKMAN, Times Staff Writer
Hughes Tool Co. terminated its proposed $1.2-billion merger with Baker International Corp. late Wednesday after failing to negotiate a last-minute plan to overcome Justice Department antitrust objections. Orange-based Baker immediately marched into a state court in Houston and filed a lawsuit against Hughes and certain of its directors, demanding that the ailing oil services company be forced "to live up to its deal," said Baker President James D. Woods.
BUSINESS
December 12, 1986
Hughes Tool Co. has scheduled a special stockholders meeting for Jan. 28 to approve its proposed $1.2-billion merger with Orange-based Baker International Corp. Stockholders of record at Houston-based Hughes Tool will be entitled to vote on the merger of the two oil services firms.
BUSINESS
June 12, 1986
Hughes Tool Co., as expected, is appealing its May 5 removal from Smith International Inc.'s creditors' committee, according to documents filed Tuesday in Los Angeles federal court. U.S. Bankruptcy Judge James R. Dooley had removed Hughes from the committee, even though the Houston-based company is Smith's largest unsecured creditor.
BUSINESS
May 21, 1986
Hughes Tool Co. has filed an appeal of a federal bankruptcy judge's decision to remove it from a creditors' committee overseeing the bankruptcy reorganization of Smith International Inc. U.S. Bankruptcy Judge James R. Dooley said Hughes' participation on the committee would create a potential conflict of interest because Houston-based Hughes and Newport Beach-based Smith are direct competitors in the oil-field equipment market. Hughes attorney David Toy said that in its appeal to the U.S.
BUSINESS
April 26, 1986 | LESLIE BERKMAN
Hughes Tool Co. of Houston filed an appeal Friday, seeking to increase the $204.6-million judgment it was awarded last month in its patent-infringement lawsuit against Irvine-based Smith International Inc. Smith already has filed its own appeal, claiming that the award--determined by U.S. District Judge Harry L. Hupp--is too large. Both Smith's appeal and Hughes' cross appeal will be heard by the U.S. Court of Appeals for the Federal Circuit in Washington.
BUSINESS
April 4, 1987 | LESLIE BERKMAN, Times Staff Writer
The much-delayed merger of Baker International and Hughes Tool was formally completed Friday, creating a new company with more than $2 billion in annual revenue and a leadership position in the manufacture of oil drilling equipment. The $1.2-billion stock swap is meant to improve the fortunes of both companies in the current downturn of the oil service industry.
BUSINESS
May 13, 1988
Richard J. (Rick) Stone has been named partner in charge of litigation at the Los Angeles office of law firm Milbank, Tweed, Hadley & McCloy. Stone, 43, recently was lead trial counsel in the patent defense of Smith International in a case brought by Hughes Tool Co. He previously was a partner at Sidley & Austin.
BUSINESS
February 14, 1986 | JANE APPLEGATE, Times Staff Writer
In a move that could potentially save Smith International Inc. about $100 million in damages stemming from a critical patent-infringement suit, a Los Angeles federal court judge Thursday apparently rejected Hughes Tool Co.'s claim for lost profits. A claim for profits that Hughes would have earned if Smith had not infringed upon one of its patents is part of the $1.2 billion in damages Hughes is seeking from the Newport Beach oil services and equipment company.
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