Re: Ceton vs. Gibson Lawsuit
Posted: Mon Sep 12, 2016 2:10 am
It seems like they did settle instead of go to trial (which would have started on 9/6). From one of the original articles: "The maker of Les Paul guitars claims it has paid Ceton more than $950,000 since June to develop the technology. "
http://www.bizjournals.com/nashville/bl ... -than.html
So it looks like they're just recouping the actual money paid and the rest of the $12 mil figure was meant to be "...compensatory damages -- including more than $2.5 million in estimated costs to complete the project with a third party, and more than $10 million in lost profits "because of Ceton's delay and failure to perform.""
Money which Ceton probably doesn't have, if they have the $950k at all
http://www.bizjournals.com/nashville/bl ... -than.html
So it looks like they're just recouping the actual money paid and the rest of the $12 mil figure was meant to be "...compensatory damages -- including more than $2.5 million in estimated costs to complete the project with a third party, and more than $10 million in lost profits "because of Ceton's delay and failure to perform.""
Money which Ceton probably doesn't have, if they have the $950k at all