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Stock Market & Financial Investment News

News Breaks
June 18, 2014
16:55 EDTTGI, ETNEaton, Triumph Group announce settlement
Power management company Eaton Corporation (ETN) announced Eaton and Triumph Group (TGI) have signed an agreement that completely resolves all litigation issues between them with respect to actions pending in Mississippi and North Carolina. The parties have agreed that Eaton will pay $147.5M as part of the settlement. Other settlement terms are confidential. Eaton filed suit in 2004 in Mississippi against Frisby Aerospace, now a Triumph Group subsidiary known as Triumph Actuation Systems - Clemmons, LLC, alleging trade secret misappropriation. North Carolina-based Frisby Aerospace denied the charges and later filed suit against Eaton in North Carolina and Mississippi, alleging anticompetitive behavior. “We believe it is in the best interests of our shareholders to put this matter behind us,” said Alexander M. Cutler, chairman and CEO of Eaton. “We have been pursuing the return of our information and documents for ten years, and we are pleased the information and documents will be returned as part of the settlement. Both parties are best served by a permanent resolution of the matter.”
News For ETN;TGI From The Last 14 Days
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June 18, 2015
06:57 EDTETNMay Class 8 retail sales rose 12%, says JPMorgan
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June 17, 2015
09:51 EDTTGIJefferies to hold company meetings at the Paris Air Show
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June 16, 2015
08:17 EDTETNEaton says Arnold to succeed Cutler as chairman and CEO on June 1, 2016
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08:16 EDTETNEaton says Alexander Cutler to retire as Chairman and CEO on May 31, 2016
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08:15 EDTETNEaton says Alexander Cutler to retire as Chairman and CEO on May 31, 2016
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08:15 EDTETNEaton board names Craig Arnold president and COO, effective September 1
June 15, 2015
06:58 EDTETNMulti Industry estimates lowered at Credit Suisse
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