LAWSUITS NEWS & LEGAL INFORMATION
Citation Corp.
New York, NY: (Jun-08-07) Dana Corp. filed a lawsuit against Citation Corp., one of its biggest suppliers of parts used in Ford Motor Co. and Nissan Motor Co. automobiles, alleging that Citation overcharged for products. The suit was filed with the US Bankruptcy Court in Manhattan.
In a settlement reached, Citation agreed to pay Dana about $790,000 to settle quarrels involving past overpayments. Dana Corp. stated that the deal sharply lowers the price Dana has been paying for Citation parts used to make such automobile components as axle assemblies. Dana and Citation are both examples of turmoil in the US automobile industry, which has been affected by sluggish vehicle demand and steep production costs. Over the last few years, a growing number of auto-parts manufacturers have tumbled into bankruptcy proceedings amid production cutbacks by big auto manufacturers. [FORBES: OVERCHARGED AUTO PARTS]
Published on Jun-11-07
In a settlement reached, Citation agreed to pay Dana about $790,000 to settle quarrels involving past overpayments. Dana Corp. stated that the deal sharply lowers the price Dana has been paying for Citation parts used to make such automobile components as axle assemblies. Dana and Citation are both examples of turmoil in the US automobile industry, which has been affected by sluggish vehicle demand and steep production costs. Over the last few years, a growing number of auto-parts manufacturers have tumbled into bankruptcy proceedings amid production cutbacks by big auto manufacturers. [FORBES: OVERCHARGED AUTO PARTS]
Legal Help
If you have a similar problem and would like to be contacted by a lawyer at no cost or obligation, please click the link below.Published on Jun-11-07
