WILMINGTON, Del. March 11 -- A state jury in Delaware has ordered infomercial-producer National Media Corp. to pay nearly $2 million in legal fees and damages to a former director it had accused of insider trading.
National Media had challenged the attorneys' fees accumulated by former director Abe Salaman, who successfuly defended the insider trading charge in a federal trial in 1992.
On Thursday, following a trial in Wilmington, a jury found that Salaman was entitled to all $387,000 in fees owed to his Philadelphia law firm. The jury also ordered National Media to pay Salaman $1.55 million in punitive damages.
National Media, a Philadelphia company which produces 30-minute television ads, agreed this week to be acquired for $150 million by ValueVision International of Minneapolis, the nation's third largest home shopping network.