EDS successfully arbitrates claims stemming from merger
Client(s) Electronic Data Systems
A three-arbitrator panel of the American Arbitration Association ruled in favor of Jones Day client Electronic Data Systems Corporation ("EDS"), which brought claims against Towers Perrin arising out of the merger of the companies' respective benefits administration and human resources outsourcing businesses to form a separate business known as ExcellerateHRO. The arbitration panel, following a three-week hearing, awarded EDS damages and dismissed all of Towers Perrin's claims. This decision was subsequently confirmed by the United States District Court for the Northern District of Texas and a judgment was entered in favor of EDS. That judgment was appealed to the Fifth Circuit, but the appeal was dismissed.
Electronic Data Systems Corporation and Towers, Perrin, Forster & Crosby, Inc., Nos. 13 489 Y 00146 07 (AAA); 08-cv-00846 (N.D. Tex.); 08-10992 (5th Cir.)