Goss wins $10.4 Mil verdict against TKS in dumping case
Press release from the issuing company
December 4, 2003 - Japanese press manufacturer TKS improperly dumped large newspaper printing presses in the United States with the intent to destroy or injure the U.S. printing press industry, according to a verdict handed down yesterday by a federal jury in Cedar Rapids, Iowa. The jury awarded Goss International $10,539,949 in damages against Tokyo Kikai Seisakusho, Ltd. and its U.S. subsidiary for dumped sales between 1996 and 2000.
The Goss action was taken under the 1916 Antidumping Act, which seeks to protect U.S. businesses from unfair competition. Under this law the verdict will be trebled and will include attorneys' fees, according to William Schopf of Schopf & Weiss, trial counsel to Goss International.
"Goss believes in free and fair trade in all its global activities," said Bob Brown, CEO of Goss International. "TKS violated U.S. law and then tried to cover up their actions by destroying documents. We are gratified that the jury has held TKS responsible for their actions in the U.S. marketplace."
Schopf added, "This was a verdict for American industry and the American worker. We were proud to have been part of the effort."
The lawsuit relates to a complaint filed by Goss Graphic Systems, Inc. in March 2000. Earlier this year, Goss International settled similar claims against three out of the four original German and Japanese manufacturers in the suit. No details of those settlements will be released.
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