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Tyco International Inc. owes a Pennsylvania man $32.6 million in franchise leasing fees from one of its U.S. subsidiaries, Sensormatic, the 3rd Circuit has ruled. The issue in the case was one of bad timing. Sensormatic wanted to go ahead with a buy-back option at the end of its franchise lease from James Winner Jr., inventor of the anti-theft device The Club. It failed, however, to notify Winner of its intentions in the time frame outlined in the lease agreement, according to the opinion.
September 13, 2005 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
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