Ever since Siemens AG acquired Boca Raton, Florida-based PABX distributor Telecom Plus International Inc in March 1987, it has been in dispute with the vendor, TPI Enterprises Inc over the final price: Siemens alleges that financial statements issued by TPI and relied on by Siemens in the purchase were overstated; now an arbitrator has allowed $25.5m of Siemens’ $203m claim and $1.8m had already been conceded by TPI; as Siemens had withheld a substantial part of the payment price, it will now have to pay TPI $40m; the arbitration does not settle the dispute, and Siemens is pursuing other claims in court.
