SPX Responds to Echlin's Frivolous Lawsuit
6 April 1998
SPX Responds to Echlin's Frivolous LawsuitMUSKEGON, Mich., April 6 -- SPX Corporation today issued the following statement regarding a lawsuit filed today by Echlin Inc. , attempting to block a special meeting demanded by Echlin shareholders: "This is yet another transparent attempt by Echlin to disenfranchise its shareholders after more than 50% have exercised their right to demand a special meeting. After failing to change Connecticut law and pretending to make an economic case to its shareholders, Echlin has now filed a clearly frivolous lawsuit, ensuring Echlin's place in the 'Shareholder Hall of Shame.' SPX will challenge this suit vigorously and we continue to expect the special meeting of Echlin shareholders to be held by June 23, 1998." SPX Corporation is a global provider of Vehicle Service Solutions to franchised dealers and independent service locations, Service Support to Vehicle Manufacturers, and Vehicle Components to the worldwide motor vehicle industry. SPX's Internet address is http://www.spx.com. SOURCE SPX Corporation