The defense company filed the lawsuit with the UK High Court of Justice.
Defense contractor Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) has filed a $100 million lawsuit with the UK High Court of Justice against the government of Georgia over its failure to pay for items delivered under several contracts signed in 2007. The company did not disclose what items it delivered to Georgia.
Elbit Systems said that the lawsuit would not have a material effect on its financial results.
Elbit Systems' share price fell 0.2% on Nasdaq on Friday to $53.80, giving a market cap of $2.3 billion, and fell 0.2% in early trading on the TASE today to NIS 186.60.
Published by Globes [online], Israel business news - www.globes-online.com - on April 10, 2011
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