Printer Friendly

STONE & WEBSTER ANNOUNCES LITIGATION RESULT

 NEW YORK, Dec. 13 /PRNewswire/ -- Stone & Webster, Incorporated (NYSE: SW) reported today that following a trial in a contract-related lawsuit in the United States District Court for the Eastern District of Virginia brought by Chesapeake Paper Products Company against Stone & Webster Engineering Corporation (SWEC), a wholly owned subsidiary of Stone & Webster, Incorporated, the jury returned a verdict against SWEC in the amount of $4.6 million and the Court found in favor of SWEC on its counterclaim in the amount of $1.5 million. Both parties have been given 21 days to file their post-trial motions with the trial judge. In the event SWEC is not granted relief, it intends to appeal the damage award asserted against it. SWEC believes that it has reasonable legal grounds on which to seek a reversal of the decision.
 -0- 12/13/93
 /CONTACT: William M. Egan of Stone & Webster, Incorporated, 212-290-7490/
 (SW)


CO: Stone & Webster, Incorporated; Chesapeake Paper Products ST: New York IN: SU:

JG-SP -- NY080 -- 3291 12/13/93 16:03 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Dec 13, 1993
Words:170
Previous Article:PIONEER-STANDARD HAS RECORD PROFIT, UP 48 PERCENT IN THIRD QUARTER
Next Article:SHAPIRO NAMED TO GLIATECH BOARD OF DIRECTORS

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters