Delaware judge dismisses lawsuit against Tirex

MONTREAL (Nov. 8)—A judge in Delaware Chancery Court has dismissed a breach-of-contract lawsuit against Montreal-based tire recycler Tirex Corp., according to Tirex. The plaintiffs, IM2 Merchandising and Manufacturing of Montreal and its president, David Sinclair, sued last March after a joint venture agreement between IM2 and Tirex to manufacture rubber mats fell through. IM2 and Sinclair claimed Tirex had no intention of holding up its end of the contract, but merely wanted to use the deal to bolster its stock prices. The lawsuit "inflicted considerable harm on (Tirex) and its stockholders," Tirex President John L. Threshie Jr. said in a prepared statement.