Goss International confirmed it has reached a
settlement with three press makers it accused of causing its 1999 bankruptcy.
A source told Newspapers & Technology the
company had negotiated an agreement with MAN Roland Inc., KBA and Mitsubishi
Heavy Industries, thus ending a legal battle that begun when Goss sued
competitors for allegedly selling their equipment at lower than fair-value
prices. Claims against a fourth press vendor, TKS, have not been withdrawn.
Terms of the settlement were not disclosed. But
vendors were likely induced to settle now rather than continue to spend money
fighting the suit.
“It’s cheaper to settle than to have years of
attorneys’ fees,” said an executive at one of the affected press suppliers,
who declined to be identified.
Goss had staked its claims on the Antidumping Act
of 1916 to recover damages. That legislation has been under attack as being out
of step with more current trade guidelines established by the World Trade
Organization.