DuPont Escapes $12.5M Suit Over Escrow Agreement Breach

Law360, New York (October 15, 2013, 2:38 PM EDT) -- A New York federal judge on Tuesday tossed a suit brought by American Securities LLC against DuPont Co. that accused the company of breaching several agreements by blocking the release of escrow monies related to a $485 million sale.

The dispute arises from chemical manufacturer DuPont’s acquisition of merger holding company ASP MECS, which it bought from American after the investment advisory firm indirectly acquired the stock of Horizon Global Technology Inc. — the parent and sole stockholder of MECS Inc. — in January 2008. American...
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