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A federal appeals court upheld a previous verdict, ruling that Disney Co. must pay London-based Celador International $319 million. The U.S. Circuit Court of Appeals, on Monday, upheld a $319 million verdict of the former judge’s decision.
The federal appeals court ruled in Celador's favor. It was stated by the three-judge panel of the 9th U.S. Circuit Court of Appeals that the verdict was not "grossly excessive or monstrous.”
Celador International claimed that Disney used “creative accounting” to hide profits from the show. Celador International Chairman, Paul Smith, said in a statement: "I am pleased that justice has been done.”
The jury concluded that Celador was owed $269.2 million. In addition, the judge later added $50 million in interest to the judgment. That ruling was upheld by the appeals court. Paul Smith said, “Our litigation objectives − to receive what we were fairly entitled to under our contract and to be made substantially whole − were realized by the jury’s verdict and today by the Court of Appeals’ decision…”
Disney did not immediately comment on the decision.