Texas Supreme Court Hears UT Regents’ $51M Royalty Dispute
For 13 years, the University of Texas Board of Regents and IDEXX Laboratories seemed pleased with a royalty deal they inked for certain diagnostic tests used by veterinarians. Then an auditor told UT IDEXX had been underpaying what it owed under the structure of the deal. That finding led to litigation and a $51 million award for UT that was later undone by the Fourteenth Court of Appeals in Houston. The Texas Supreme Court has agreed to determine whether the contract binding the parties is ambiguous.