Cisco Founders Must Pay $20M Award: High Court

Law360, New York (February 23, 2010, 5:45 PM EST) -- The U.S. Supreme Court has shot down a bid by Leonard Bosack and Sandy Lerner, the husband-and-wife team that founded Cisco Systems, to overturn an arbitrator's $20 million punitive damages award to their former investment manager David Soward in a dispute over the dissolution of two investment partnerships.

The court revealed its decision in an order list issued Monday.

“We're gratified that this long ordeal has come to an end, and David can get a measure of justice for having suffered a seven-year scorched-earth campaign,” said...
To view the full article, register now.