Earlier this week U.S. automobile dealers from across the country filed a lawsuit this week accusing the Indian truck manufacturer Mahindra & Mahindra, Ltd. and its U.S. counterpart of fraud, misrepresentation, and conspiracy. The lawsuit alleges that Mahindra duped hundreds of U.S. auto dealers and walked away with more than $60 million in cash and trade secrets. Click here to read the full story.
Now, Mahindra has issued a response below:
MUMBAI –We have seen the press release issued by the legal firm of Diaz Reus and Targ which claims to represent some US automobile dealers in a suit apparently filed on June 4, 2012 in the US District Court in Atlanta, Georgia against Mahindra & Mahindra Ltd. and Mahindra USA Inc.
We cannot comment on this as the matter is in the courts but we would like to state that some dealers had earlier filed a suit against Mahindra and Global Vehicles in the US District Court in Missouri. The Missouri Court dismissed all claims against Mahindra in that suit. Significantly, the Missouri Court also ruled that Mahindra could not be held liable for any action of Global Vehicles with respect to its dealers.
In a separate related development, an International Arbitral tribunal has in February 2012 dismissed similar allegations and claims against Mahindra made by Global Vehicles. Mahindra is in the process of enforcing that arbitration award.
Mahindra unequivocally denies all allegations of fraud, misrepresentation and conspiracy.
SOURCE Mahindra & Mahindra Limited