USI Holdings Granted New Trial on Copyright Infringement Dispute

USI Holdings Corporation announced that a federal court has ordered a new trial on damages and statute of limitations issues in the copyright infringement case William A. Graham Company v. Thomas P. Haughey and USI MidAtlantic Inc. (U.S. District Court, Eastern District of Pennsylvania, CA No. 05-612). The Company’s subsidiary USI MidAtlantic Inc. (“USIM”) and one of its employees are the defendants in the action.

In June 2006, a jury returned a verdict against USIM and Haughey in amounts of $16.6 million and $2.2 million, respectively, for copyright infringement. On Nov. 21, 2006, in ruling on USIM’s post-trial motions, the court denied USIM’s motion for judgment as a matter of law, but granted USIM’s motion for a new trial to the extent noted. The effect of the court’s ruling is to vacate the entire damage award entered upon the jury’s verdict. USIM and Haughey intend to pursue the opportunity for a new trial on damages and statute of limitations issues afforded them by the court and, if necessary thereafter, an appeal.

Source: USI Holdings Corporation