USA Truck Says Knight Used Secret Info For $242M Buyout Bid

Law360, Los Angeles (October 11, 2013, 6:08 PM EDT) -- USA Truck Inc. announced Thursday that it is suing Knight Transportation Inc. for breach of contract in Arkansas state court, alleging Knight used confidential information so it could launch a hostile takeover of USA Truck for $242 million, a price that undervalued the company.

USA Truck's board of directors wants the court to “restore a level playing field” by forcing Knight to divest the shares it allegedly acquired in violation of a confidentiality agreement between the parties. Management for USA Truck claim Knight has spurned its...
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