Court Rules On Post-Trial Motions In USA Truck Contract Dispute
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USA Truck, Inc. (NASDAQ: USAK) today announced that on December 4, 2007,
the U.S. District Court for the Eastern District of Arkansas entered its
order addressing the parties’ post-trial
motions in the lawsuit against us entitled All-Ways Logistics, Inc.
v. USA Truck, Inc. As previously reported, in early August, the jury
returned an unfavorable verdict in this lawsuit, finding that USA Truck
breached a contract agreement and awarding the plaintiff damages of
approximately $3.0 million, which was accrued during the quarter ended
September 30, 2007. Any additional amounts owed in relation to
pre-judgment interest, legal fees and costs were not determined at that
time.
In its December 4, 2007 order, the court denied substantially all of USA
Truck’s motions for post-trial relief and
granted the plaintiff’s motions for
pre-judgment interest, attorney’s fees and
costs in an amount totaling approximately $1.6 million. The Company will
accrue this additional amount during the fourth quarter.
We strongly disagree with the verdict and the court’s
order and we are exploring our appeal options.
This press release contains forward-looking statements and information
that are based on our current expectations and assumptions we have made
based upon information currently available. Forward-looking statements
include statements relating to our plans, strategies, objectives,
expectations, intentions and adequacy of resources, and may be
identified by words such as "could,” "should,” "may,” "believe,” "expect,” "intend,” "plan,” "schedule,” "estimate,” "project” and
similar expressions. Although we believe that the expectations reflected
in such forward-looking statements are reasonable, we cannot assure you
that such expectations will be realized. If one or more of the risks or
uncertainties underlying such expectations materialize, or if underlying
assumptions prove incorrect, actual results may vary materially from
those expected. Additional risks associated with our operations are
discussed in our SEC filings, including our Annual Report on Form 10-K
for the year ended December 31, 2006, and our subsequent quarterly
reports on Form 10-Q.
All forward-looking statements attributable to us, or persons acting on
our behalf, are expressly qualified in their entirety by this cautionary
statement.
We undertake no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events, or otherwise. In light of these risks and uncertainties,
the forward-looking events and circumstances discussed in this press
release might not occur.
References to the "Company,” "we,” "us,” "our” and words of
similar import refer to USA Truck, Inc. and its subsidiary.
USA Truck is a dry van truckload carrier transporting general
commodities via our General, Regional and Dedicated Freight divisions.
We transport commodities throughout the continental United States and
into and out of portions of Canada. We also transport general
commodities into and out of Mexico by allowing through-trailer service
from our terminal in Laredo, Texas. Our Third Party Logistics and
Strategic Capacity Solutions (freight brokerage) divisions provide
customized transportation solutions using our technology and multiple
modes of transportation including our assets and the assets of our
partner carriers.
This press release will be available to interested parties at our web
site, http://www.usa-truck.com
under the "Financial Data”
tab of the "Investor Relations”
page.