Wabtec Comments On Caterpillar Company Progress Rail's Complaint; Says Progress Rail's Assertions On Breach Of Agreements Or Illegal Conduct Are Wrong
Portfolio Pulse from Benzinga Newsdesk
Wabtec has responded to a complaint by Caterpillar Company's Progress Rail, stating that the assertions of breach of agreements or illegal conduct are incorrect. The conflict between the two companies could potentially lead to legal proceedings.
September 11, 2023 | 11:03 am
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NEGATIVE IMPACT
Caterpillar Company's Progress Rail has accused Wabtec of breach of agreements and illegal conduct. This could potentially lead to a legal battle.
The allegations made by Progress Rail against Wabtec could potentially lead to a legal battle, which could negatively impact Caterpillar's stock in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 75
NEGATIVE IMPACT
Wabtec is facing allegations of breach of agreements and illegal conduct by Progress Rail, a Caterpillar Company. Wabtec has denied these allegations.
The allegations made by Progress Rail could potentially harm Wabtec's reputation and lead to legal consequences. This could negatively impact the company's stock in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100