Celador Awarded $50 Million in Prejudgment Interest on Disney Verdict

Celador Awarded $50 Million in Prejudgment Interest on Disney Verdict

LOS ANGELES, Sept. 27 /PRNewswire/ -- On September 27, 2010, Judge Virginia A. Phillips of the United States District Court for the Central District of California awarded $50 million in prejudgment interest to Celador International, Ltd. in addition to damages of $269,431,798 awarded to Celador on July 7, 2010 by a jury in Riverside California.

The Order issued after Disney stipulated formally to Celador's entitlement to $50,000,000 in prejudgment interest rather than leave it up Judge Phillips to decide the amount owed to Celador. Disney also agreed not to challenge Celador's right to prejudgment interest and will not appeal the $50,000,000 award. This results in a total judgment against Disney of $319,431,798. Additional litigation costs may yet be awarded to Celador.

On July 7, 2010, a federal jury awarded Celador International, Ltd. $269.4 million in damages after unanimously finding that Disney subsidiaries ABC Television, Buena Vista Television, and Valleycrest Productions, Ltd., had breached their contract with Celador to share profits from the enormously successful game show "Who Wants To Be A Millionaire?". In reaching its verdict in Celador International Ltd. v. Walt Disney Co., the nine member jury also unanimously found that the Defendants breached the implied covenant of good faith and fair dealing they owed to Celador. The jury deliberated for two and a half days before reaching its verdict.

The lawsuit, filed in 2004, arose over a dispute regarding profits from the highly successful game show "Who Wants To Be A Millionaire?", which became a smash hit in 1999 and took ABC from #4 to #1 in network rankings. The show was created by British company Celador International, Ltd. which licensed the rights to ABC Television and Buena Vista Television for North America. In return, Celador was to share fifty-fifty in expected profits from the show. But, based on accountings generated by The Walt Disney Co., not only did the show -- which aired on ABC for three years and has been in syndication for ten years -- never make a profit, it generated over $70 million in "losses" for Disney. The jury found otherwise after a four week trial in Riverside, Calif.

Celador's trial lawyers Roman M. Silberfeld and Bernice Conn, partners with Robins, Kaplan, Miller & Ciresi L.L.P. in Los Angeles, said, "We are pleased that Disney recognized the wisdom of reaching this agreement rather than incurring the cost of litigating the prejudgment interest issue in the trial and appellate courts."

About Robins, Kaplan, Miller & Ciresi L.L.P.

Robins, Kaplan, Miller & Ciresi L.L.P. (www.rkmc.com) is one of the top trial firms in the country. The firm's clients include numerous Fortune 500 corporations, emerging markets companies, entrepreneurs, and individuals as both plaintiffs and defendants. Robins, Kaplan, Miller & Ciresi L.L.P. is frequently engaged in high-stakes, complex litigation with significant bottom-line implications for their clients, and the business lawyers handle complex transactions in a variety of market segments. The firm has more than 250 lawyers located in Atlanta, Boston, Los Angeles, Minneapolis, New York and Naples (FL).

Robins, Kaplan, Miller & Ciresi L.L.P. has been honored with recognition from The American Lawyer, which ranked the firm no. 6 in the country in the 2009 Pro Bono Survey, and twice named the firm to the A-List (2007 and 2004). The firm has regularly received a top ranking for litigation from Chambers USA. In 2009, the firm was included on the National Law Journal's "The Midsize Hotlist" and chosen as a "Go-To Law Firm" by Corporate Counsel.

SOURCE Robins, Kaplan, Miller & Ciresi L.L.P.

Robins, Kaplan, Miller & Ciresi L.L.P.

CONTACT: Monica Smith for Robins, Kaplan, Miller & Ciresi L.L.P., +1-407-267-3657, msmith@jaffepr.com

Web Site: http://www.rkmc.com

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