AIRI - Air Industries and CPI Aerostructures settle working capital dispute
Air Industries Group (AIRI) has reached an agreement to resolve its post-closing working capital adjustment dispute with CPI Aerostructures (CVU).In a motion filed, CPI Aero sought, among other things, a judgment against Air Industries in the amount of ~$4.1M.The parties agreed to resolve the dispute by payment of the ~$1.38M remaining in escrow to CPI Aero.AIRI was up 8% whereas CVU gained 6% after-hours.
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Air Industries and CPI Aerostructures settle working capital dispute