Jewelry News: Charles & Colvard hit with $50M countersuit

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Charles & Colvard hit with $50M countersuit

Posted by Posted by Jewelry News at Saturday, June 28, 2008 5:02 AM and is filed under uncategorized

Gem maker Charles & Colvard faces a $50 million countersuit from a jewelry manufacturer the Morrisville company sued earlier this month. K&G Creations said in a news released issued Thursday that its suit accuses Charles & Colvard of breach of contract, tortious interference, unfair competition and fraud. The legal action is in response to a $2.8 million lawsuit Charles & Colvard filed against K&G on June 16. Charles & Colvard claims that K&G owes the company for purchases made under a manufacturing agreement that ended Dec. 31, 2007.

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