Cybex International, Inc. said a judge has issued a stay in its product liability lawsuit that resulted in a $66 million jury verdict against the exercise equipment maker last year
The fitness equipment company reported that the Appellate Division, Fourth Judicial Department, of the Supreme Court of the State of New York has granted the company’s motion for a stay of enforcement of the judgment in the Barnhard v. Cybex International, Inc. litigation pending the company’s appeals, subject to the posting of collateral aggregating $10 million. Cybex said it expects to post the collateral by June 6, 2011.
In a statement, Cybex said it “strongly believes that it was not negligent and is in no way responsible for the accident that is the basis of the suit, and intends to vigorously pursue all avenues to attain a reversal or substantial reduction of this judgment. In this regard, the Company has filed appeals of post trial orders and the judgment in this case with the Appellate Division. The stay prohibits the plaintiff from attempting to enforce the judgment during the appellate process. The Company expects a decision on its appeals within the next six to twelve months.”
The suit was filed by a woman who was severely injured when a Cybex weight machine fell on her.
