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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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April 9, 2015
05:41 EDTTGITriumph Group removed from Priority Stock List at Wells Fargo
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April 8, 2015
13:32 EDTTGITriumph Group reiterted as an Underperform at BofA/Merrill
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11:17 EDTTGITriumph Group added to short-term buy list at Deutsche Bank
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08:53 EDTTGITriumph Group CEO change could be positive for shares, says Wells Fargo
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08:08 EDTTGITriumph Group says Jeffry Firsby steps down as president and CEO
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April 6, 2015
07:30 EDTETNJPMorgan still sees elevated truck production in 2015
JPMorgan notes Class 8 truck orders for March dropped 9% year-over-year to 25,100 units, a number that impacts Navistar (NAV), PACCAR (PCAR), Cummins (CMI), Allison Transmission (ALSN) and Eaton (ETN). The firm said Thursday that despite the weaker orders for March, investors should continue to have confidence that production will remain elevated in 2015.

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