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Stock Market & Financial Investment News

News Breaks
June 18, 2014
16:55 EDTETN, TGIEaton, 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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September 23, 2014
08:38 EDTTGIBofA/Merrill airlines/aerospace analysts hold analyst/industry conference call
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