Eli Lilly and its insurer, National Union, have pulled the plug on the lawsuit against ADT and Tyco, filed recently in federal court in Connecticut stemming from a $60 million pharmaceutical heist. Did they dismiss the lawsuit because they settled out of court? Nope.
Instead, Eli Lilly and National Union allegedly went looking for a more favorable jurisdiction to get around a problem with Connecticut’s statute of limitations (the time within which the law says you must file a lawsuit). They brought a new lawsuit in federal court in the Southern District of Florida, the location of ADT/Tyco’s corporate headquarters. They also added some new allegations (fraud, misrepresentation, interference with contract) and added two individual defendants–Amed and Amaury Villa, the alleged perpetrators of the heist. TycoIS (ADT’s new name) has, again, moved to dismiss the lawsuit. Stay tuned.