Auto parts supplier Faurecia is sued and will pay ten million US dollars in damages
According to foreign reports, the global auto parts supplier Faurecia has recently been sued by Canadian multinational company. According to the court's final verdict, Faurecia will pay $10 million in compensation to Multimatic.
The dispute originated from a component in the dashboard of the car - the crossover beam, which was mainly used on Chrysler's Sebring and Dodge Avenger models.
Faurecia Multimatic in 2003 and signed a letter of intent for the supply of cross-car beam, including technical details of the cross-car beam Multimatic designed, and even include Multimatic company's customers and business confidential information. However, since the two did not ultimately agree on the purchase price, Faurecia subsequently signed a supply contract with another supplier, Brown Corp.
Multimatic’s indictment of Faurecia’s alleged disclosure of such confidential information violates the confidentiality terms signed by both parties. Multimatic also presented the results of an expert assessment, stating that Faurecia caused a loss of $28.7 million to Multimatic. Foglia has defended in court, saying that the information in the signed letter of intent cannot be described as “confidential†at all.
The United States Circuit Court announced the latest verdict last week, and Faurecia will pay $10 million in compensation to Multimatic.
Roger Young, partner of Multimatic's law firm Young & Susser PC, said in an interview that Multimatic is satisfied with the results of the referee and hopes that Faurecia can pay the compensation as soon as possible.
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