Amazon Seeks to End Toys R Us Partnership
From Associated Press
Amazon.com Inc., responding to a lawsuit by Toys R Us Inc., is seeking to dissolve the companies’ partnership, citing a “chronic failure” by the toy seller to adhere to their contract.
In a countersuit filed in New Jersey state court, Seattle-based Amazon.com suggested it should be awarded at least $750 million for lost shipping revenue and other costs.
A spokeswoman for Wayne, N.J.-based Toys R Us said the suit had no merit and the companies were in mediation.
Toys R Us shares fell 38 cents to $16.18 on the NYSE. Amazon.com shares rose $1.59 to $53.39 on Nasdaq.
