Summary
Becton, Dickinson and Company (BD) announced on January 6, 2009, the settlement of a legal dispute with Ultimed, Inc. The lawsuit, filed in the U.S. District Court for the District of Minnesota, has been resolved through a mutual agreement. This settlement brings closure to the matter without any admission of liability by BD. As part of the settlement, BD will pay Ultimed $750,000. In return, Ultimed will dismiss the lawsuit with prejudice, meaning it cannot be refiled. This financial resolution is relatively small for a company of BD's size and should have a minimal impact on the company's overall financial performance, allowing management to focus on core business operations.
Key Highlights
- 1Becton, Dickinson and Company (BD) settled a legal dispute with Ultimed, Inc.
- 2The settlement was entered into on January 5, 2009.
- 3The lawsuit was filed in the United States District Court, District of Minnesota.
- 4BD will pay $750,000 to Ultimed as part of the settlement.
- 5Ultimed will dismiss the lawsuit with prejudice.
- 6The settlement includes mutual releases between the parties.
- 7The resolution resolves the matter of Ultimed, Inc. v. Becton, Dickinson and Company.