BERWYN, Pa.--(BUSINESS WIRE)--May. 30, 2012--
Triumph Group, Inc. (NYSE:TGI) today announced that the United
States District Court for the Southern District of Mississippi dismissed
in their entirety the indictments of five engineers employed with the
company’s subsidiary, Triumph Actuation Systems, LLC, who were former
employees of Eaton Aerospace, LLC. Those indictments had charged the
engineers with trade secret misappropriation, conspiracy to
misappropriate trade secrets, and mail and wire fraud. This dismissal
occurred at the request of the government and brings to a close all
criminal proceedings in Mississippi.
The previously reported civil actions remain pending. Specifically,
Eaton has appealed to the Mississippi Supreme Court the December 22,
2010 dismissal of its civil case against Triumph Group, Inc., Frisby
Aerospace, LLC (now named Triumph Actuation Systems, LLC), Jeffry Frisby
and six engineers who were former employees of Eaton, including the five
who had been under indictment before today’s dismissal. The civil
actions and counterclaims by Triumph and its subsidiaries against Eaton
remain pending both in the Circuit Court of the First Judicial District
of Hinds County, Mississippi and the United States District Court for
the Middle District of North Carolina.
Richard C. Ill, Triumph’s Chairman and Chief Executive Officer, said,
“The dismissal of the indictments against our employees is a welcome
positive step not only for them, but also for our company and our
customers.”
More information about Triumph can be found on the company’s website at http://www.triumphgroup.com.
Statements in this release which are not historical facts are
forward-looking statements under the provisions of the Private
Securities Litigation Reform Act of 1995. All forward-looking statements
involve risks and uncertainties which could affect the company’s actual
results and could cause its actual results to differ materially from
those expressed in any forward looking statements made by, or on behalf
of, the company. Further information regarding the important factors
that could cause actual results to differ from projected results can be
found in Triumph’s reports filed with the SEC, including our Annual
Report on Form 10-K for the year ended March 31, 2012.
Source: Triumph Group, Inc.
Triumph Group, Inc.
Sheila Spagnolo, Vice President
610-251-1000
sspagnolo@triumphgroup.com
