Zoltek to Challenge Jury Verdicts

Carbon fiber maker Zoltek Companies, Inc. (Nasdaq: ZOLT) reported that it will challenge the verdicts handed down by a St. Louis jury in a lawsuit.

The jury found that Zoltek breached its obligations under a supply agreement for carbon fiber, and ruled in favor of the plaintiffs on one count of damages of $21 million and on a second count of $15 million.

Zoltek said it believes it has “strong legal grounds” to overturn these verdicts and will file post-trial motions challenging the decisions.

Carbon fibers are used in aircraft brakes and sporting goods and have also become important in the manufacture of wind turbine blades.