MAS Sued For US$80 Million and is down for USD 80 Mil !!!!

Another down by MAS in term of cash flow !!
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KUALA LUMPUR, Sept 6 (Bernama) -- Malaysia Airline System Bhd (MAS) is being sued by U.S GIRO - Warranty House International, Inc. for alleged breach of contract and fraudulent misrepresentation and is seeking damages of up to US$80 million (US$1=RM2.98).

In a filing to Bursa today, MAS said it was served with a complaint in the United States District Court for the Northern District of Oklahoma on Aug 22, 2011.

Without elaborating on the litigation, MAS said it was reviewing the complaint with the assistance of external counsel.


Source: Bernama