Indian chemical giant UPL announced that the District Court in Delaware has substantially reduced the earlier jury verdict of $31 million to $13 million by its judgement of 30 November 2020.
The court has also vacated a number of jury’s determination on key counts.
This litigation relates to an ongoing intellectual property litigation regarding TruPick, a 1-MCP product launched by the post-harvest business of UPL in USA in 2016.
The company has already made a provision for the full $31 million jury award in the FY 2019-20.
UPL is presently considering its options, including potential appeal of any judgment, that arises based on the adverse portions of the jury verdict that remain.
In October 2019, UPL was ordered to pay $31 million to US-based AgroFresh in patent infringement case.