Tool Co. Ends $45M Suit Over Loan And 'Phantom Stock'
By Travis Bland ( December 11, 2023, 3:46 PM EST) -- A Chinese tool manufacturer withdrew its $45 million lawsuit in North Carolina federal court alleging the president of its U.S. operations never paid back a $1.6 million loan and demanding payment on a nonexistent "phantom stock plan" worth 15% of the company's value after he quit....
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