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Trucking company says acquisition of USA Truck violated contract

Confidentiality agreements are meant to protect Las Vegas businesses from being harmed. They prevent those who sign the contract from disclosing important and restricted information to a third party. Individuals or companies who fail to honor the terms of their agreement may face claims against them in a court of law.

According to reports, USA Truck believes that a broken confidentiality agreement between them and Knight Transportation financially harmed the company and its stockholders. They filed a commercial litigation lawsuit against Knight claiming that a breach of contract caused the confidentiality agreement dispute.

USA Truck claims that Knight was privy to private information about USA Truck given that Knight was in the process of taking over the company. USA Truck believes that Knight then turned the cards on them and used the privileged information against them in an attempt to acquire the company for much less than it is worth.

Further claims are that Knight obtained USA Truck shares after a private and confidential discussion with USA Truck. As such, USA Truck believes that in order to right the wrong, Knight should divest the shares.

It appears that USA Truck is still on board with the acquisition, they simply want it to be handled in a more lawful manner that protects all who are involved. If you believe that your business has been harmed by someone’s failure to abide by a confidentiality agreement, or some other improper behavior, discussing the matter with a qualified business litigation attorney is a wise move.

Source: The Trucker, “USA Truck says Knight broke confidentiality agreement in acquisition bid,” Oct. 11, 2013

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