GM Drops Steel Dynamics Suit
A pricing dispute ends.
Steelmaker
Steel Dynamics
(STLD) - Get Report
said
General Motors
(GM) - Get Report
has withdrawn its appeal of a court loss in a contract dispute.
GM's decision comes on the heels of a Michigan court's August 2004 dismissal of GM's March 2004 breach-of-contract lawsuit against Steel Dynamics.
The Oakland County Circuit Court had ruled that GM could not compel Steel Dynamics to sell it steel throughout 2004 at January 2003 prices, based on a so-called award letter.
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