SAN FRANCISCO (CN) - After arbitration in Singapore over a racketeering conspiracy ended with a $9 million judgment for Uthe Technology, a California federal judge should not have thrown out Uthe's lawsuit seeking treble damages from Aetrium, the Ninth Circuit ruled Friday.
"Because the arbitral award did not constitute full satisfaction of Uthe's pre-existing RICO claim, we hold that Uthe is entitled to seek treble damages under RICO against the defendants," Judge Milan Smith wrote for a three-judge panel.
The 14-page reversal notes that the arbitration in question lasted nearly two decades.
Uthe, a manufacturer and distributor of semiconductor products, claims that Aetrium, Harry Allen and a number of individuals in Singapore conspired to take over one of Uthe's overseas subsidiaries.
U.S. District Judge William Alsup is presiding over Uthe's action in San Francisco, which the District Court stayed pending the resolution of the Singapore arbitration against the foreign defendants.
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