US: Sidney Frank CEO speaks out over Beam Inc legal battle
The legal battle dates back to last March
Sidney Frank’s CEO has said he is “pleased” but not surprised that a US federal judge has allowed the firm's US$100m lawsuit against Beam Inc to proceed.
Last week US District Judge Nelson Roman rejected a bid by Beam to have the one year-old action thrown out. In the suit, Sidney Frank claims that the Illinois-based spirits group breached a contract by denying it access to Michael Collins Irish Whiskey in the US, following Beam’s acquisition of the brand's owner, Cooley Distillery.
Sidney Frank claims Beam sought to “destroy” the whiskey brand and is seeking $100m in damages.
In a statement issued today, Sidney Frank CEO Lee Einsidler said: "We are pleased by the court's ruling although not surprised, as the facts are known and they will speak loudly for themselves.”
He added: “We will establish that our long-term contract with Cooley Distillery was in full force and effect, and that Beam wrongfully terminated the contract by unilaterally cutting off the whiskey supply at the source.”
Einsidler claims that Sidney Frank had “invested many millions of dollars in Michael Collins”.
However, in a statement last week Beam stood firm on its position. The statement said: “This claim is without merit. We will defend this case vigorously and we are confident that we will prevail.”
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