What’s the price of not showing up in court? For PepsiCo Inc., it’s a $1.26 billion default judgment in a case alleging that the company stole the idea for its Aquafina brand of bottled water. One reason for PepsiCo’s absence: A secretary in its law department forgot to give a letter about the case to a staff attorney.
Now the company is scrambling to salvage the situation. The damages award was handed down on September 30 by a Wisconsin state court judge. PepsiCo filed motions to vacate the order and dismiss the claims on October 13, saying it wasn’t even aware of the lawsuit until October 6. At press time a hearing was scheduled for November 6.
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