Southern District Judge George Daniels dismissed a breach of contract claim, saying that the foundry acquired by a Japanese materials company was not on a list of "selected targets" that was the basis for the company's contract with an investment banking firm.
February 07, 2017 at 04:01 PM
1 minute read
An investment banking firm has lost its dispute over a completion fee for the investment in an American foundry business by a Japanese materials company.
Southern District Judge George Daniels granted summary judgment against TrueNorth Capital, which alleged that it should get a $6.8 million fee for the $1.3 billion acquisition of Waupaca Foundry Company in 2014 by Hitachi Metals America (HMA), a subsidiary of Hitachi Metals Ltd.
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