Advanced Environmental Recycling (NASDAQ:AERTA)
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From Jun 2019 to Jun 2024
Advanced Environmental Recycling Technologies Inc.
(NASDAQ:AERTA) announced today that on Friday, March 3, 2006, a
Benton County Circuit Court jury found AERT liable for approximately
$750,000 in damages to Advanced Control Solutions ("ACS") for future
business opportunities that ACS alleges it lost when AERT discontinued
using ACS programming and electrical contractor services. The jury
found that AERT also interfered with certain non-compete provisions of
an employment agreement between ACS and its employee by hiring the
employee after he had been terminated by ACS in December 2003.
The jury also awarded ACS approximately $14,000 for equipment,
tools and inventories it left on AERT premises for fifteen months
following AERT's termination of ACS's electrical contracting services;
however, awarded AERT judgment against ACS for approximately $45,000
for ACS's failure to complete a programming contract.
According to Lamar Pettus, legal counsel for AERT, motions will be
filed requesting the Judge to set aside the verdicts against AERT as
not being supported by the law and facts. Pettus said if the motions
were not granted AERT will appeal the jury verdicts to the Arkansas
Court of Appeals.
Since 1989, AERT has pioneered the use of recycled polyethylene
plastic in the manufacture of composite building materials. With its
constantly evolving portfolio of patented and proprietary recycling
technologies, AERT has been widely recognized as a leader in resource
conservation innovation, receiving the EPA Award for Environmental
Excellence for its process of converting scrap plastic to composite
outdoor decking. The Company's value added products and focus on
customer service earned its Weyerhaeuser/AERT ChoiceDek(R) program the
Lowe's Companies' 2005 Vendor of the Year Award for lumber products.
AERT operates manufacturing and recycling facilities in Arkansas,
Texas, and Louisiana. For more information, visit www.aertinc.com.