Peet's Owes $200M For Expansion Pact Violation: Suit

Law360, New York (May 18, 2011, 7:43 PM EDT) -- Aegis Retail Group LLC sued Peet's Coffee & Tea Inc. on Tuesday, claiming the California-based retailer owed it at least $200 million for unlawfully nixing an agreement under which Aegis agreed to help Peet's expand in the New York area.

The specialty coffee company terminated much of its business relationship with Aegis on March 31, claiming it had lost faith in Aegis as a business partner, according to a complaint filed in New York Supreme Court.

Aegis claims that in actuality, Peet's is seeking to reap...
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