HOLTSVILLE, N.Y.-Symbol Technologies Inc. said a court has ruled against its subsidiary, Telxon, in favor of Smart Media for about $218 million, plus interest.
Symbol said it will appeal the verdict.
In 1999, Smart Media filed claims against Telxon alleging that it suffered financial losses because Telxon did not form a business alliance with Smart Media or provide financial support to develop the “smart handle” product.
The court denied Telxon’s motions for judgement, notwithstanding the verdict, for a new trial and for a reduction in the verdict.
Symbol acquired Telxon in 2000.
