Printer Friendly

ARMSTRONG WORLD INDUSTRIES ISSUES ANNOUNCEMENT

 ARMSTRONG WORLD INDUSTRIES ISSUES ANNOUNCEMENT
 LANCASTER, Pa., Nov. 12 /PRNewswire/ -- Armstrong World Industries,


Inc. (NYSE: ACK), announced today that it is requesting rehearing by the entire U.S. Court of Appeals for the Third Circuit of that part of a three-judge panel's decision on October 28, 1992, that reversed a District Court's 1991 rulings in favor of Armstrong.
 In the October 28 decision, the panel agreed that the District Court Judge correctly overturned a jury verdict in favor of The Industry Network System, Inc. (TINS) and correctly granted a new trial on an alternative basis. However, the panel also overturned in certain respects the District Court's further judgment for Armstrong on all of TINS' claims notwithstanding the jury's verdict.
 In its petition, Armstrong is asking all 12 active judges of the Court of Appeals to reconsider that portion of the decision involving judgment notwithstanding the verdict, arguing that the panel's decision in certain important respects was contrary to several U.S. Supreme Court decisions, as well as to the earlier decisions of the Third Circuit Court of Appeals.
 Armstrong's petition says, based on its reading of the law, that the October 28 opinion is incorrect as a matter of law in several critical respects as follows:
 -- The panel should not have permitted TINS to have a new trial on Sherman Act Section 1 antitrust allegations, because the record lacks the type of evidence required by the Supreme Court for such a claim and the panel itself held that there was a lack of evidence of any adverse market impact sufficient for recovery under the Sherman Act Section 2.
 -- The panel should not have permitted TINS to have a new trial on its claim of tortious interference with a prospective contract between TINS and Stern & Company, Inc. (an Armstrong distributor), because pro- competitive comment is encouraged by the Sherman Act and should not result in liability on the alleged tortious interference claim.
 -- The panel should not have permitted TINS to have a new trial on its claim for punitive damages, because the only evidence of Armstrong's own conduct was limited to a pro-competitive comment of a local sales manager.
 -- The panel should not have permitted TINS to have a new trial on whether Armstrong breached an earlier settlement agreement with TINS because the panel's interpretation of the agreement was contrary to the clear language of the agreement.
 Armstrong received a petition filed today by TINS requesting rehearing on two issues: (1) whether a plaintiff, seeking recovery of alleged "lost profits" on two legal theories (state-law tortious interference and federal antitrust law), is entitled to recovery on both legal theories, instead of electing damages under only one of the legal theories; and (2) whether the prohibitions in Sherman Act Section 2 of an actual monopoly or attempt to monopolize include conduct involving the use of lawfully acquired monopoly power in one market merely to gain a "competitive advantage" in a second market, without any evidence showing an actual monopoly or an attempt to monopolize the second market.
 The Court of Appeals normally decides a petition for rehearing within two to three weeks.
 -0- 11/12/92
 /CONTACT: Armstrong Public Relations, 717-396-3313/
 (ACK) CO: Armstrong World Industries, Inc.; The Industry Network System, Inc. ST: Pennsylvania IN: SU:


CC -- PH029 -- 0392 11/12/92 16:53 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 12, 1992
Words:553
Previous Article:MBIA AND CAISSE DES DEPOTS FORM JOINT VENTURE TO OFFER TENDER OPTION BONDS
Next Article:1992 U.S. AND CANADIAN CAR AND TRUCK OUTPUT AHEAD OF 1991 BY 8.9 PERCENT
Topics:


Related Articles
ARMSTRONG WORLD INDUSTRIES ISSUES ANNOUNCEMENT
ARMSTRONG WORLD INDUSTRIES ISSUES ANNOUNCEMENT
ARMSTRONG WORLD INDUSTRIES ISSUES ANNOUNCEMENT
ARMSTRONG WORLD INDUSTRIES ISSUES ANNOUNCEMENT
ARMSTRONG WORLD INDUSTRIES, GRATIFIED BY APPEALS COURT DECISION
ARMSTRONG WORLD INDUSTRIES ISSUES PERSONNEL ANNOUNCEMENT
ARMSTRONG WORLD INDUSTRIES ISSUES ANNOUNCEMENT
ARMSTRONG WORLD INDUSTRIES ISSUES ANNOUNCEMENT
ARMSTRONG WORLD INDUSTRIES ISSUES ANNOUNCEMENT
ARMSTRONG WORLD INDUSTRIES ISSUES ANNOUNCEMENT

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters