© tom schmucker Electronics Production | September 23, 2014

Parrot withdrawals legal proceedings against

Parrot S.A. has withdrawn the legal proceeding against GmbH, a jointly owned company of Elektrobit Corporation (EB) and Audi.
Parrot S.A., one of suppliers, has withdrawan the leagal proceeding taken against in the Tribunal de Commerce de Paris (Commercial Court Paris) on April 2014.

In the claim Parrot S.A. requested to collect damages in the amount of approximately EUR 18.4 million for loss of profit and reputational damage. According to GmbH's initial legal analysis, the claim was without merit both in terms of the grounds and the amount of the claim.

EB expects neither the legal action nor the withdrawal will cause any such financial consequence that would affect the company's profit outlook or financial position. EB has no information on Parrot S.A.'s possible plans to initiate further legal actions in another forum.


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