UPL announced that the District Court in Delaware has substantially reduced the earlier October 2019 jury verdict of $31 million to $13 million by its judgement of 30 November 2020.
The court has also vacated a number of jury's determination on key counts.
This litigation relates to an ongoing intellectual property litigation regarding TruPick, a 1-MCP product launched by the post-harvest business of UPL in USA in 2016.
UPL has already made a provision for the full $31 million jury award in the FY 2019-20.
UPL is presently considering its options, including potential appeal of any judgment, that arises based on the adverse portions of the jury verdict that remain.
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