Penguin Wins $2.4M From Time/Warner In NY Appeal

Law360, Los Angeles (January 28, 2014, 4:43 PM ET) -- A New York appellate court on Tuesday ordered Time/Warner Retail Sales and Marketing Services Inc. to pay Penguin Group USA Inc. nearly $2.4 million over books distributed to a bankrupt wholesaler, finding Time/Warner's payment to Penguin should have been based on actual returns as opposed to historical return rates.

A five-judge panel of the New York Supreme Court's Appellate Division unanimously reversed Justice Melvin L. Schweitzer's ruling denying Penguin's motion for summary judgment on its breach of contract claim and granting Time/ Warner's cross-motion to dismiss...
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