USTA Takes On Olympus Over US Open Contract

Law360, New York (November 23, 2010, 6:38 PM EST) -- The U.S. Tennis Association has filed suit to prevent Olympus Corp. of the Americas from bailing on a multiyear sponsorship of the U.S. Open, claiming the camera company fabricated a conflict with Panasonic Corp. in order to break the contract and save roughly $12 million.

The USTA filed the complaint last Monday in the New York Supreme Court in Westchester County, alleging Olympus illegally terminated the extended contract for the U.S. Open sponsorship and tried to evade 2011 funding obligations by cooking up a bogus sponsorship...
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