Kington Holdings Ltd. Monday said that, on March 17, the arbitrator appointed by the American Arbitration Association, or AAA, made a partial final award in favor of Kington on the question of liability in arbitration proceedings initiated by LoJack Corp.'s (LOJN) subsidiary LoJack Equipment Ireland Ltd. in November 2007.
Kington filed the award with the Superior Court in accordance with Massachusetts law. LoJack, after announcing the award, sought to keep its contents secret by applying for impoundment of the award and all related materials. On May 5, 2009, the Superior Court rejected LoJack's motion for impoundment and lifted the stay on Kington's claim.
LoJack Equipment initiated the arbitration proceedings against Kington following LoJack Equipment's November 12, 2007 termination of the Technology License agreement for China exchanged with Kington in November 2006. During the course of the proceedings, LoJack Equipment obtained an interim injunction against Kington and one if its directors. LoJack Equipment also made public announcements of both the confidential proceedings themselves and the injunction.
According to Kington, on September 26, 2008, it filed a counterclaim against LoJack Equipment in the arbitration proceedings. On September 30, 2008, Kington also filed a claim against LoJack in Massachusetts Superior Court in Norfolk County alleging interference with contractual relations relating to the license agreement. Kington also sought damages of $269.3 million, plus attorneys' fees and treble damages if it is held that LoJack acted in bad faith. On LoJack's motion, that claim was stayed until final determination of the arbitration proceedings.
Kington said that it is publishing the arbitrator's findings for the protection of its name and reputation and to avoid misunderstandings. It is declared that LoJack Equipment improperly terminated the agreement. LoJack Equipment is also found to have breached the agreement and the implied covenant of good faith and fair dealing.
Whether Kington is entitled to any damages, costs and/or attorneys' fees and, if so, the amount will be determined in Phase II of the arbitration. The partial final award is final and conclusive as to the relief sought by each party in the Phase I of the arbitration. All other requests for relief made by the parties in the Phase 1 of the arbitration are denied. The award has the effect of lifting the temporary injunctions obtained by LoJack Equipment, Kington noted.
LOJN is trading at $3.44, up $0.02, on a volume of 1,482 shares.
For comments and feedback contact: editorial@rttnews.com
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.