Cape Composites Files Civil Class Action Lawsuit.SAN DIEGO--(BUSINESS WIRE)--Aug. 16, 1999-- Cape Composites Incorporated, a San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. based manufacturer of Advanced Composite Materials, announced today that it has filed a civil class action lawsuit class action lawsuit A lawsuit in which one party or a limited number of parties sue on behalf of a larger group to which the parties belong. For example, investors may bring a class action lawsuit against a brokerage firm that has actively promoted a tax against several U.S. and Japanese carbon fiber and prepreg manufacturers alleging illegal anti-competitive practices Anti-competitive practices are business or government practices that prevent and/or reduce competition in a market (see restraint of trade). Anti-competitive practices can include: The named defendants in the lawsuit include: Hexcel Inc. and Hercules Inc. of the United States, and Toho Rayon rayon, synthetic fibers made from cellulose or textiles woven from such fibers; more rayon is manufactured than any other synthetic fiber. The name was adopted (1924), in preference to "artificial silk," by the U.S. Dept. , Toray Industries and Mitsuibishi Rayon of Japan, Mitsuibishi's U.S. subsidiaries Grafil, Inc., and Newport Adhesives and Composites, Inc.; Toray's U.S. subsidiaries Toray Carbon Fibers America and Toray Composites America, Inc., and Toho's U.S. subsidiary Toho Carbon Fibers, Inc. According to Cape's President, Dave Abrams, "Despite the Justice Department's ongoing investigation of anti-competitive practices by the defendants, it is our belief that these practices are continuing today. It is unfortunate that we have to distract ourselves from constructive business activities to initiate litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. , but we do not see any other way of getting a clear message to the defendants that we, as an industry, will not tolerate unfair competition. The composites industry has tremendous growth potential, and the activities which we believe are taking place will stagnate stag·nate intr.v. stag·nat·ed, stag·nat·ing, stag·nates To be or become stagnant. [Latin st industry growth." Cape Composites, founded in 1984, manufactures high performance composite pre-impregnated materials, including unidirectional The transfer or transmission of data in a channel in one direction only. tape, woven fabric prepregs and thin film adhesives made from carbon, glass, and aramid fibers and fabrics coated with epoxy resins. Cape sells materials to commercial markets such as recreational, medical, marine, automotive and infrastructure product manufactures. Chitwood & Harley, an Atlanta based law firm which specializes in anti-trust and class action litigation, will be the lead counsel for this lawsuit. Cape Composites urges companies which have purchased prepreg or carbon fiber from the defendants between 1993 and July 1999, and which believe they have been damaged by alleged anti-competitive practices to contact Dave Abrams at (619) 450-0113. |
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