Cases, Deals, Settlements
SGR Attorneys Recouped More Than $750,000 for an SGR Manufacturing Client
In a recent arbitration in Richmond, Va., SGR’s Dana Richens and Mark Rogers recouped more than $750,000 for an SGR manufacturing client arising from a supplier’s attempt to wrongfully raise prices. The supplier had argued that the increased cost of its raw materials was sufficient reason to invoke a force majeure clause in the parties’ long-term supply agreement. SGR successfully argued that the impetus for the long-term supply contract was the supplier’s willingness to commit to firm pricing and that the clause at issue did not allow the supplier to terminate the contract for non-catastrophic events. The award included damages for a pricing differential, cost of cover and a lost rebate.
