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Leonard delivered a check for $700,008.50 to PepsiCo, attempting to purchase the jet. PepsiCo initially rejected Leonard's offer, citing the humorous nature of the offer in the advertisement. Leonard then sued PepsiCo, Inc. in an effort to enforce the offer and acceptance perceived by Leonard to be made in the advertisement.
In August 1999, judge Kimba Wood ruled in favor of PepsiCo with the argument that "[n]o objective person could reasonably have concluded that the commercial actually offered consumers a Harrier jet". [6] The company later updated their commercial to increase the number of Pepsi Points required for the jet from seven million to 700 million. [2]
A business student who read the fine print discovered that he could buy Pepsi points, and persuaded investors to give him $700,000 — the amount he needed to buy the 7 million points for the jet ...
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At the time this settlement was announced in 2014, it was the largest federal settlement with a single company in U.S. history. Bank of America agreed to pay more than $16 billion to resolve ...
PepsiCo said the lawsuit “is wrong on the facts and the law” and misunderstands the way consumer product companies help retailers provide lower prices. “PepsiCo strongly disputes the FTC’s allegations and the partisan manner in which the suit was filed. We will vigorously present our case in court,” the company said in a statement.
The Indiana State Fairgrounds Coliseum is a multi-use arena with a seating capacity of about 7,800 located on the Indiana State Fairgrounds in Indianapolis. [1] On the night of October 31, 1963, 4,327 spectators were present at the arena to see the opening-night performance of Holiday on Ice .
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