LAS VEGAS, Dec. 13, 2018 /PRNewswire/ -- Scientific Games Corporation (NASDAQ: SGMS) ("Scientific Games" or the "Company") today announced the Company has reached a settlement in its litigation with Shuffle Tech International LLC and other plaintiffs. On August 7, 2018, the jury awarded Shuffle Tech and the other plaintiffs $105 million in compensatory damages, which was subject to trebling, as well as attorney's fees and costs which brought the total to $335 million. As part of the settlement, Scientific Games will pay the plaintiffs $151.5 million which represents 45 percent of the original $335 million.
"While we firmly believe that the jury decision was wrong, we are pleased with the outcome of the settlement and that this matter will be resolved for good," said James Sottile, Chief Legal Officer and Executive Vice President, Scientific Games.
The settlement is conditioned on the trial court entering an order vacating the judgment entered on the jury's verdict. The Company anticipates that the trial court will enter such an order. Upon satisfaction of the condition described above, the settlement ends all litigation related to this matter and all pending motions and filings will be dropped. While the settlement resolves the disputed claims, Scientific Games has not admitted any liability.
Last updated: Sep 25, 2019 at 05:39 pm CDT
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