New Source: JusticeNewsFlash.com
06/10/2013 // West Palm Beach , Florida, US // JusticeNewsFlash // Justice News Flash // (press release)
Detroit – A federal judge has thrown out a $3 billion lawsuit brought against General Motors Co by Dutch sports car maker Spyker NV. As reported by Reuters, the judge determined in the case that GM was within its rights in blocking the sale of a company using its technology.
Spyker filed the lawsuit last year, claiming the U.S. automaker tried to bankrupt Saab, a Swedish automaker for which it is now the parent company after purchasing it from GM in 2010. Spyker sought damages for GM’s attempt to stop a deal with Zhejiang Youngman Lotus Automobile Co.
U.S. District Court Judge Gershwin Drain is quoted by Reuters as stating during a hearing in Detroit, regarding the case, “General Motors had a contractual right to approve or disapprove the proposed transaction… The court is going to grant the motion to dismiss the matter.”
Justice News Flash delivers the latest in Detroit business legal news.
Media Information:
Address: 215 South Olive Suite 300 W. Palm Beach FL 33401
Phone: 866-598-1315
Url: http://justicenews.visionsmartnews.com/judge-throws-out-3-billion-lawsuit-against-general-motors_9495.html News Source: JusticeNewsFlash.com – Press Release Distribution