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NEW YORK (AP) - A federal jury has awarded $125 million in damages to OSI Systems Inc., a California maker of airport security-detection systems, after lawyers successfully argued that a dispute with L-3 Communications Inc. caused it to lose substantial business after the Sept. 11, 2001, terrorist attacks.
The jury in U.S. District Court in Manhattan awarded $33 million in compensatory damages and $92.6 million in punitive damages, finding that L-3 Communications engaged in malice, oppression or intentional fraud as the two companies sought to acquire a third company, Perkin Elmer Security Detection Systems.
The verdict came Wednesday after a 3 1/2-week trial in which witnesses disputed what occurred after Perkin Elmer insisted that it only wanted to deal with one buyer even though both companies had agreed to acquire it together.
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