Printer Friendly

Saab AB faces USD70m lawsuit in the US.

NORDIC BUSINESS REPORT-29 May 2003-Saab AB faces USD70m lawsuit in the US(C)1994-2003 M2 COMMUNICATIONS LTD

A lawsuit has been filed in the United States against Swedish high-technology group Saab AB.

The suit, filed by AeroThrust Corporation and its parent company Windstar Capital LLC, concerns alleged fraud and related charges arising out of the 2001 purchase of AeroThrust from Saab.

The suit alleges that Saab and its subsidiaries failed to disclose the lossof two key customers just prior to the closing of the transaction.

AeroThrust and Windstar Capital are seeking USD70m in damages, among other penalties.

One US dollar (USD) is worth approximately 0.61 British pounds (GBP).

((Comments on this story may be sent to

COPYRIGHT 2003 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2003 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Nordic Business Report
Article Type:Brief Article
Geographic Code:1USA
Date:May 29, 2003
Previous Article:Swedish municipal strike ends with wage agreement.
Next Article:US embassy in Norway reopens after five-day closure.

Terms of use | Privacy policy | Copyright © 2020 Farlex, Inc. | Feedback | For webmasters