Missing court may cost PepsiCo $1.26B

October 28, 2009 8:00:17 PM PDT
PepsiCo's gotten a bill that is hard to swallow for its failure to show up in court.Two men who claim the soft drink and snack maker stole their idea for a new drink -- bottled water -- sued PepsiCo in Wisconsin and won a $1.26 billion default judgment last month when the company didn't respond.

PepsiCo wants the court to toss the award or at least give it a chance to fight the accusations. PepsiCo says it wasn't aware of the lawsuit until about a week after the award. And it says it should not have been served the lawsuit in North Carolina, where it is incorporated, but in Purchase, N.Y., where it is based.

The company says its response was also delayed when a secretary failed to act on letters relating to the case.

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