12/18/14 – 5:07 A.M.
The legal wrangling between Cooper Tire & Rubber and Apollo Tyres of India is over. The Courier reports that both companies agreed to dismiss their claims and counterclaims Wednesday. A statement from Cooper said the two companies agreed not pursue further claims on the failed sale of Cooper to Apollo.
Cooper initially sued Apollo for not closing the sale in a timely manner last year. The claim was thrown out by Delaware Chancery Court Judge Sam Glasscock III. Glasscock also ruled that neither company could have anticipated the problems a Chinese tire factory partially owned by Cooper were going to cause. The issues ultimately led to the deal falling through.Read More →