Deal Contract OK'd Attys' Fees: NJ High Court

Law360, New York (November 2, 2009, 7:29 PM EST) -- The New Jersey Supreme Court has found that a corporate financing agreement between Litton Industries Inc. and IMO Industries Inc. properly provided for attorneys' fees and costs that were disputed in a breach of contract lawsuit.

In a 60-page opinion filed Monday, the justices found that traditional principals of attorneys' fees awards applied in the case.

The underlying spat arose from a breach of contract claim stemming from Litton's 1995 agreement to buy, for $52 million, certain assets of the optical systems business of defendants IMO,...
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