Garrett Motion Files Lawsuit Against Honeywell Over Unusual Asbestos Indemnity
Garrett Motion Inc. (GTX)
Last garrett motion inc. earnings: 2/27 07:00 am
Check Earnings Report
Company Research
Source: Business Wire
ROLLE, Switzerland--(BUSINESS WIRE)--Garrett Motion Inc. (NYSE: GTX) today filed a lawsuit in the Supreme Court of the State of New York against Honeywell International Inc. (NYSE: HON), related entities and certain affiliated officers and directors. The lawsuit follows Garrett’s unsuccessful efforts to reach a negotiated solution with Honeywell’s executive team to avoid litigation.The lawsuit arises from Honeywell’s unilateral imposition of an unusual 30-year Indemnification Agreement on Garrett immediately prior to the spinoff of Garrett in October 2018. This agreement, which was not negotiated at arm’s-length, requires Garrett to compensate Honeywell for payments relating to asbestos exposure arising from Honeywell’s legacy Bendix automotive brake business, including payments relating to punitive damages and defense costs.Garrett asserts that requiring it to make these payments to Honeywell is unacceptable as the historical asbestos liability is Honeywell’s and not Garrett’s. F
Show less
Read more
Impact Snapshot
Event Time:
GTX
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
|
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
|---|---|---|
|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
| Last Price | ||
| VWAP | ||
|
High:
|
Max Up |
High:
|
|
Low:
|
Max Down |
Low:
|
|
%
|
Post news range |
%
|
|
|
Price change |
|
|
|
Price Change Percentage |
|
|
|
S&P 500 (SPX) |
|
|
%
|
Volume ratio |
%
|
| Volume | ||
| Ticks | ||
|
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
GTX alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
GTX alerts
High impacting Garrett Motion Inc. news events
Weekly update
A roundup of the hottest topics
GTX
News
- Why Fast-paced Mover Garrett Motion (GTX) Is a Great Choice for Value Investors [Yahoo! Finance]Yahoo! Finance
- Here's Why Garrett Motion (GTX) Rose in Q1 [Yahoo! Finance]Yahoo! Finance
- Are Investors Undervaluing Garrett Motion (GTX) Right Now? [Yahoo! Finance]Yahoo! Finance
- Garrett Motion First Quarter 2024 Earnings: EPS Beats Expectations, Revenues Lag [Yahoo! Finance]Yahoo! Finance
- Garrett Motion Inc. (NASDAQ:GTX) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
GTX
Earnings
- 4/25/24 - Beat
GTX
Sec Filings
- 5/2/24 - Form 4
- 5/2/24 - Form 4
- 5/2/24 - Form 4
- GTX's page on the SEC website