Equipment Lease Co. Sues Rival Over Contract Breach

Law360, New York (December 3, 2009, 6:11 PM EST) -- Equipment leasing company CoActiv Capital Partners Inc. has launched a suit against U.S. Bancorp subsidiary Lyon Financial Services Inc., accusing the rival equipment financier of making material misrepresentations during its sale of a semiconductor equipment leasing contract to CoActiv.

CoActiv claims that Lyon breached the terms of a 2008 master purchase agreement for Lyon's rights to an equipment lease agreement with a third-party semiconductor equipment company by providing inaccurate, false and misleading information about the nature of the third party's business and the condition of the...
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