USA Truck is suing Knight Transportation. The company claims Knight improperly used USA Trucks confidential information to begin a creeping hostile acquisition of USA Truck.
USA Truck Suing Knight For Using Confidential Information And Creeping Hostile Acquisition
cdllife.com"USA Truck's Board of Directors is very disappointed that Knight is doing exactly what it promised not to do: use confidential information that it was provided in the context of friendly and private discussions regarding
usa drivers look
Discussion in 'USA Truck' started by driver7702003, Oct 11, 2013.
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Dang will this soap opera continue, should be called The Young and The Truckless
Puppage, Thomas0810 and chalupa Thank this. -
Yes sir, I read that earlier. The chess game continues....
Thomas0810 Thanks this. -
It don't mean anything. USA has no recourse. This lawsuit will do nothing to keep Knight from taking over USA. Anyone with about 50 to 60 million right now can buy a majority stake in USA and fire John Simone and the rest of management. It is called free enterprise. They might have misused information but it won't affect the takeover if it is meant to be.
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I love it...... USA has been a juicy target for acquisition for awhile now. Leave it to Knight to try something like this.
If USA can prove Knight used confidential information to buy stock at a certain price and time ( discounted ) then they will pay dearly.
I can see I'm going to have to rent a popcorn machine to go with all this trucking drama. Might even have to build a theater and sell tickets.......Thomas0810 and Reycer Thank this. -
Old news. It was first announced last night on Binzinga.com. USA basically wants night to divest the shares they acquired in violation of a confidentiality agreement they had prior to having private discussions. Night will more than likely be forced to divest.
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The word I'm getting from my crystal ball is third quarter earnings are going to be very positive. I'm excited and can't wait for them to be announced. This dummy will continue to invest in USA. Buy, buy, buy...lol
Thomas0810 Thanks this. -
I don't have a crystal ball but my guess is that the 3rd quarter earning will be negative. USA has way too many short loads keeping the trucks tied up. Maybe one of the geniuses will eventually figure it out. Will see Oct 23rd.
Reycer Thanks this. -
Thomas0810 Thanks this.
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I'm sure the report will cite that earning are down again do to the same old bla, lower miles per tractor or soft freight demand which is complete b/s, but will see. One thing is for certain though, they'll keep their rates set to discourage load under and over 300 miles so that they can continue to keep trucks tied up logging more dock time than driving time.
Thomas0810 Thanks this.
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