DALLAS--(BUSINESS WIRE)--Christopher S. Hamilton, of Standly & Hamilton LLP (http://www.standlyhamilton.com), announced today that his client, Dreamscape Interiors, Inc., has reached a confidential settlement in a business lawsuit against UK-based Xennia Technology, Ltd. Dreamscape had asserted claims for damages in excess of $30 million in the lawsuit. The confidential settlement was reached the day before trial was scheduled to begin in a Bexar County District Court in San Antonio, Texas.
Dreamscape filed suit in 2010 alleging fraudulent inducement and seeking in excess of $30 million in damages for lost future business opportunities. Xennia asserted that a contractual limitation on liability capped Dreamscape’s damages at $330,000. Dreamscape countered that the clause was invalid because the contract was induced by fraud.
“This case is important because it stands for the principle that contractual defenses, such as limitations on liability, are not enforceable in Texas where a contract is induced by deception or fraud,” said Christopher S. Hamilton of Dallas, attorney for plaintiff Dreamscape.
The settlement agreement will end all outstanding legal disputes between Dreamscape and defendant Xennia. The terms of the settlement are confidential and cannot be released.
Dreamscape, a start-up technology company based in McKinney, Texas, is the holder of multiple U.S. Patents for devices that involve a novel application of ink-jet technology to create wall murals from digital images. Dreamscape had contracted with UK-based Xennia to build the device prototype in 2006.
Tom Ashley, Chief Technology Officer of Dreamscape, said, “We are extremely pleased to finally bring this case to a resolution. It will permit us to continue to develop and innovate direct application wall-printing solutions for homes and offices. We have established a first class development team in the Dallas Metroplex, and expect to have prototype devices operational by the end of this year.”
Fraudulent inducement refers to a legal claim that arises where a person signs a contract based upon intentionally false or misleading statements.