PepsiCo Inc. recently settled, for more than $25 million, a lawsuit that stemmed from a development agreement between a PepsiCo subsidiary and several government entities, including the city of Albany. In February 2009, Albany filed claims in Linn County Circuit Court after PepsiCo reneged on promises to build a $250 million Gatorade manufacturing facility, which was to provide at least 250 local jobs. The terms of the development agreement provide a case study in good lawyering by the city attorney and in how to deal with the unexpected. Read the entire article here.
The article appeared in the May 5, 2010 edition of the Daily Journal of Commerce.