KoSa Ltd. reaches Settlement in Antitrust Case

Charlotte, NC: (May-26-08) A class action lawsuit was brought against KoSa Ltd., a polyester manufacturing company currently known as Invista, alleging that the company engaged in antitrust business practices. Records indicate that when the suits were filed against the Charlotte, NC, based company, KoSa had a major manufacturing plant in Salisbury, employing 800 workers. Sources stated that the six-year-old antitrust lawsuit reached settlement, in which the plaintiffs proposed a $33 million deal with the polyester manufacturer, which has been given preliminary approval by US District Court Judge Richard Voorhees. Invista has admitted no wrongdoing in agreeing to settle, stating that it is a move to avoid the risks and costs of prolonged litigation.

KoSa Ltd. in the News

[BIZ JOURNALS: KOSA SETTLEMENT]
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Published on May-28-08