Leasing company sues trucking firm for $37 million, alleging breach of contract

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{"text":"\"Arkansas-based PKE Western Truck Leasing, Inc. filed a $37 million lawsuit against Rich Transport, LLC and its parent company, RoadRunner Transportation Systems (NYSE: RRTS), alleging breach of contract on August 7.\n\nAccording to the lawsuit filed in Pulaski County Circuit Court in Arkansas, PKE claims it entered into a contract with Rich Transport on January 1, 2019. The terms of the agreement stated that PKE would provide sufficient dedicated carriers and tractor capacity to transport a minimum of 350,000 miles per week of goods. \n\nIn turn, the suit claims that Rich was required to pay PKE more than $83,300 per month as a “capacity fee,” as well as $1.41 per mile each week.\n\nPKE claims in the suit that its owner, Paul Keith Everett, received a letter from Rich’s general counsel on August 3, alleging it failed to “provide the dedicated capacity required by the agreement,” which PKE denies. On August 6, Rich advised PKE that it was no longer providing any loads to the company and was terminating the agreement, the lawsuit states.\n\nRead more: https://www.freightwaves.com/news/leasing-company-sues-trucking-firm-for-37-million-alleging-breach-of-contract\"","videos":"[]","link":"{}","pics":"[]","canComment":true}