$1B Ruling Against Pepsi Over Bottled Water Idea Nixed

By Elaine Meyer

Law360, New York (November 09, 2009, 1:59 PM ET) -- A state court judge has vacated an earlier ruling that hit PepsiCo Inc. with $1.26 billion in damages for allegedly stealing the idea to purify and sell bottled water from two Wisconsin men after the soft drink company initially failed to respond to the lawsuit.

Wisconsin Circuit Court Judge J.R. Erwin granted Pepsi's motion to vacate the default judgment in court hearings Friday and gave the company another chance to respond to the trade secret misappropriation suit after its legal department failed to respond the first...
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