Analysis on steroids
25 November 2017 03:42 (South Africa)

Pepsi's expensive glass of water

PepsiCo has received an expensive bill for failing to appear in court. Two persons who claimed the giant soft drink bottler and snacks maker stole their concept for a new drink – bottled water - sued PepsiCo and won a $1.26 billion (!) default judgment when the company didn’t contest the charges. PepsiCo now wants the court to throw out the award - or at least give the company a chance to fight the charge. PepsiCo says it didn’t know about the lawsuit until after the award, adding that it should have been served in Purchase, NY, where it is based, not in North Carolina where it is incorporated. Pepsi adds that its response was delayed when a secretary failed to act on letters relating to the case. And the dog ate their paperwork, too, no doubt. Read more: BusinessWeek

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