Judge Overturns $100 Million Verdict in Caterpillar-ICP Contract Dispute
A federal judge recently overturned a substantial $100 million jury award that was previously granted to International Construction Products (ICP), a company that is no longer operational. The legal battle, which has been ongoing for nearly a decade, stemmed from a terminated agreement involving direct online sales of Chinese construction equipment in the U.S. The lawsuit was initially filed against construction industry giant, Caterpillar, following a contentious business arrangement fallout. The conflict began when ICP entered into a partnership in 2014 with IronPlanet, an online platform for selling used construction gear, to establish a digital … Read more