Progressive Gaming to proceed with appeal in Webb litigation |
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Published
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Fri, 26 Oct 2007 22:00
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NEW YORK (Thomson Financial) - Progressive Gaming International Corp. late Friday said it plans to proceed with the appeals process following a court ruling Thursday denying the company's post-trial claims in the Webb litigation.In February, Progressive filed post-trial claims for relief after a jury awarded $13 million to the plaintiff, which 'will be trebled in accordance with applicable law,' the company said.Progressive said it's required to post a $20 million bond by Nov. 8 in conjunction with its appeal to federal appellate court.The company said it intends to secure the $20 million bond from available cash on hand, borrowings, or other available sources.The stock of the Las Vegas-based supplier of integrated casino and jackpot management system solutions closed Friday's regular session at $4.83.Wanfeng Zhouwz/khCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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