Texas Court Axes Insurer's $6M Damages Over Energy IP Suit

Law360, Los Angeles (September 13, 2012, 9:22 PM EDT) -- A Texas appeals court on Thursday reversed a $5.85 million award against an insurance agent for two oilfield equipment and services companies, saying there was no evidence the agent’s misconduct caused damages after the companies settled a patent infringement suit for $15 million.

Thursday’s ruling marked a dramatic reversal for insurance agency Dwight W. Andrus Insurance Inc. and agent George E. Guidry, after a Texas jury found Guidry was not properly licensed and failed to provide clients Environmental Procedures Inc. and Advanced Wirecloth Inc. with required...
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