Saturday, October 1, 2011

Expedia faces $184M judgment in lawsuit - San Antonio Business Journal:

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The suit in King Count Superior Court was related to a breach ofcontract claim. The court granted the plaintiff's motion for summary judgment on Friday, and said damaged for the alleged breachhare $184.47 million, Expedia said in a regulatoryu filing. Expedia Inc. (NASDAQ: EXPE) said the judgment is not finao and that itwould However, it noted that it would need to post a bond or possibly for the full in order to appeal a finakl judgment. "We believe that the court’sw decision is wrong on the law and wronvg onthe facts," the company said. "Expedia.
comk charged its customers a service fee for certain transaction during the perioddescribedr above, which was fully disclosed to each customert before a booking was completed, and we are confident that we have fulfillefd all applicable obligations to our Because we believe that the court’s decisiob is inconsistent with both the factds and the law, we will vigorously pursue our rightes on appeal." Separately, the company said it had signed new employmengt agreements with CEO Dara Khosrowshahi and generapl counsel Burke Norton. Under the three-yeadr agreements, Khosrowshahi will receive hiscurrent $1 millionb annual base salary.
Norton's base salart will increase to $425,000 from $375,000.

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