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ANTITRUST SUIT * USA: Eaton's
* New York - Eaton faces over $2 billion in damages in court battle
NY,USA -The Wall Street Journal, by BOB TITA -June 18, 2014: -- After losing a prolonged court battle, Eaton Corp. faces up to $2.4 billion in damages for squeezing rivals out of the truck-transmission market by rewarding commercial truck makers with generous rebates for using its own transmissions... The payout could prompt companies to review standard marketing tools like discounts and rebates programs... Auto-parts companies Meritor Inc. of Michigan and Germany's ZF Friedrichshafen, which filed an antitrust lawsuit against Eaton in 2006, are seeking between $475 million and $800 million in lost profits and lost business opportunities. A jury ruled in their favor in 2009 and Eaton lost a subsequent appeal, leaving only damages to be determined at a trial scheduled to begin June 23. Since damages are tripled in antitrust cases, the payout range could swell to $1.4 billion to $2.4 billion, according to analysts...
Labels: suits
posted by Unknown @ 11:40 AM
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