EXIDE ELECTRONICS GROUP, INC. ANNOUNCES SERIES OF COURT RULINGS IN HENDRY MATTER
RALEIGH, N.C., Nov. 9 /PRNewswire/ -- Exide Electronics Group, Inc. (NASDAQ: XUPS), announced today that a series of rulings were made at a recent pretrial conference in the suit brought by James Hendry against the company's principal subsidiary, which alleges the failure to pay commissions in connection with a contract involving work for the Air Force. A verdict in favor of Mr. Hendry for some $14.9 million following a trial in 1990 on claims seeking compensatory damages in excess of $62 million and punitive damages, was reversed by the Ninth Circuit Court of Appeals in 1992. In July 1993, the trial court determined that certain claims of the plaintiff may not be tried again, but ordered a new trial on the plaintiff's claims of breach of oral contract, fraud and quantum meruit (i.e. reasonable compensation for services rendered). At the pretrial conference, the trial judge denied Mr. Hendry's motions to: (i) add three new claims (including a claim seeking treble damages), and (ii) include a claim based on alleged oral modification of a written sales representative agreement. The trial judge also denied Exide Electronics' motions for summary judgment on the three claims that the court has ruled are still in the case. Mr. Hendry's trial brief states that he is seeking compensatory damages between approximately $34 and $68 million. He is also seeking unspecified punitive damages and damages on certain other claims, which Exide Electronics believes should not be included in the case. As previously announced, subsequent to the pretrial conference, the trial judge announced that the new trial, originally scheduled for Nov. 2, 1993, would not begin until Jan. 4, 1994. The company cannot predict the outcome of the new trial, and there can be no assurance as to the ultimate outcome of this matter. -0- 11/9/93 /CONTACT: Marty R. Kittrell, chief financial officer, of Exide Electronics Group, 919-872-3020/ (XUPS)
CO: Exide Electronics Group, Inc. ST: North Carolina IN: CPR S:?
CM -- CH002 -- 2080 11/09/93 08:55 EST