Kington Files US$269M Claim Against LoJack
BEIJING, September 29 /PRNewswire/ --
- Claim Stems from LoJack's Termination of China Technology License
Kington Holdings Ltd ("Kington") announced today that it has filed a counterclaim in proceedings with the American Arbitration Association against LoJack Equipment Ireland Ltd ("LoJack Ireland"), a subsidiary of LoJack Corporation (Nasdaq: LOJN) ("LoJack"), a provider of recovery systems for stolen vehicles.
The dispute arose from LoJack Ireland's termination of a Technology License agreement for China on 12th November 2007, after which LoJack filed for arbitration for alleged damages in…