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Monday, December 5, 2016

Cargotec Received Verdict of damages of $13 mln from US Jury

October 11, 2016

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Cargotec has received a USD 13 million verdict in a local jury trial in Hempstead, USA.

The verdict is subject to the local judge's confirmation. Verdict is related to business acquisition negotiations Cargotec USA had in 2010 and 2011.

The negotiations were closed without results. The claim is based on Cargotec having breached confidentiality obligations related to the negotiations.  
 
Cargotec disputes the claim and will appeal to the Court of Appeals. Cargotec estimates that the verdict does not have an impact on the 2016 result.
 

United StatesCourt of AppealsCargotec