LAWSUITS NEWS & LEGAL INFORMATION
Contract Dispute
This is a settlement for the Commercial lawsuit.
Hackensack, NJ: (Jan-29-08) An Israeli insurance company, a client of Ness Technologies, Inc., a global provider of information technology solutions and services, brought a lawsuit against it over a contract dispute that developed in late 2006. The suit stated that the client halted work on an ongoing project, claiming that Ness had breached the contract by not delivering the required software on time. Records show that Ness challenged the claim, noting that the client had dramatically increased the scope of the project since its start.
Sources close to the case stated that the dispute went to mandatory arbitration in January 2007, as per the terms of the contract. The Israeli insurance company filed the lawsuit seeking reimbursement of amounts it had paid as well as damages, together totaling approximately $25 million. As part of a settlement reached, Ness officials claimed that Ness agreed to a $9 million payout to settle the long-running arbitration case. [CNN NEWS: CONTRACT DISPUTE]
Published on Jan-30-08
Sources close to the case stated that the dispute went to mandatory arbitration in January 2007, as per the terms of the contract. The Israeli insurance company filed the lawsuit seeking reimbursement of amounts it had paid as well as damages, together totaling approximately $25 million. As part of a settlement reached, Ness officials claimed that Ness agreed to a $9 million payout to settle the long-running arbitration case. [
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