RIO ALGOM, INC. v. SAMMI STEEL CO.


168 A.D.2d 250 (1990)

Rio Algom, Inc. et al., Respondents, v. Sammi Steel Co., Ltd., et al., Appellants

Appellate Division of the Supreme Court of the State of New York, First Department.

December 6, 1990


Defendants entered into a contract to acquire two steel mills owned by plaintiffs and operated as a subsidiary, Al Tech Specialty Steel Corporation. The contract of sale provides for adjustment of the purchase price on the basis of the net income to Al Tech for the period from January 1, 1989 through the date of the closing, August 1, 1989. The adjustment is to be calculated from financial statements furnished to defendants by Deloitte Haskins & Sells based upon its independent...

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