With the legal process continuing in his suit against Cybex, Gene Kirila has chosen to speak out only to SNEWSÂ® in a short statement about the recent court affirmation of the jury verdict that came to nearly $2.5 million.
In that ruling issued March 31, the judge first affirmed the $900,000-plus in damages that a jury two years ago said Cybex should pay Kirila for alleged breaches by Cybex in the sale of Kirila's Pyramid Fitness to Cybex. Then the judge added some $1.5 million in interest, attorneys' fees and penalties for a total verdict of $2.45 million. The case is being heard in the Court of Common Pleas of Mercer County, Pennsylvania.
In his statement, Kirila, who since selling Pyramid has built a company that invests in manufacturing, promising he'll get back to fitness once the legal battle is over. Cybex has said it will appeal the ruling, which could take another 12 to 24 months. No money must be paid until the legal appeals are complete.
In the release, Kirila told SNEWS: "Kirila, a serial entrepreneur and inventor, is excited about getting back into the fitness business. Kirila's team is seeking to re-enter the fitness and rehabilitation industry."
He also said in the last decade he has used his manufacturing experience to start other companies and that the legal action "caused Kirila to focus on several different industriesÂ….
"Kirila has learned from his experiences in dealing with Cybex," the statement added, "and has put these experiences to good business use."
Kirila later told SNEWS via email he is "currently looking for the right opportunity to get back into the fitness industry."
The case took nearly six years to wend through the courts before the original jury verdict was issued in February 2002. Cybex has said it does not agree with the rulings, but it could not begin the appeal process until the judge affirmed the verdict. (See SNEWS story, April 19, 2004.)