BEIJING (AP) -- A company set up to sell LoJack Corp. stolen vehicle recovery systems in China said Monday it has filed a counterclaim in a legal dispute with LoJack Equipment of Ireland Ltd.
The counterclaim by Kington Holdings Ltd. of Beijing was filed with the American Arbitration Association.
The two companies have been in a contract dispute since November of last year, when LoJack Ireland, a subsidiary of LoJack Corp. of Westwood, Mass., terminated a technology license agreement for China and filed an arbitration claim for $5 million in damages, according to a Kington statement.
Kington contends the termination was unlawful, and in its counterclaim, is seeking $269.2 million for breach of contract, plus additional damages. The amount, Kington claims, is for lost profit and expenses based on projections by LoJack, as well as unfair trade practices.
Messages were left Monday for spokesmen at LoJack Corp.'s Westwood, Mass., headquarters.
LoJack shares added 22 cents, or 3.2 percent, to $7.09 in midday trading.
