US Courts Uphold Dismissal of Spyker Lawsuit
The 6th U.S. Circuit Court of Appeals in Cincinnati has upheld the dismissal of a $3 billion lawsuit in which Spyker accused General Motors of interfering with its plan to sell Saab to a Chinese company. The federal appeals court said Spyker failed to show GM intentionally interfered with the company’s effort to sell the Swedish automaker to Zheijiang Youngman Lotus Automobile Co, which resulted in Saab’s bankruptcy.
SEE ALSO: Should I Buy a Used Saab 9-2x?
In 2010, GM sold its majority stake of Saab to Spyker and as part of the sale, the American automaker licensed Saab to build vehicles using GM’s intellectual property and retained a right to end the license if Saab was sold without its consent. The recent decision upheld a ruling from June 2013 by U.S. District Judge Gershwin Drain in Flint, Michigan.
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Jason Siu began his career in automotive journalism in 2003 with Modified Magazine, a property previously held by VerticalScope. As the West Coast Editor, he played a pivotal role while also extending his expertise to Modified Luxury & Exotics and Modified Mustangs. Beyond his editorial work, Jason authored two notable Cartech books. His tenure at AutoGuide.com saw him immersed in the daily news cycle, yet his passion for hands-on evaluation led him to focus on testing and product reviews, offering well-rounded recommendations to AutoGuide readers. Currently, as the Content Director for VerticalScope, Jason spearheads the content strategy for an array of online publications, a role that has him at the helm of ensuring quality and consistency across the board.
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