Shredding Mystery Causes Fall In Cooper Shares

13th May 2002 | 0 Comments

Shares in Cooper Tire & Rubber fell dramatically (by as much as 25 per cent at one stage, although they later recovered to 11 per cent down) after reports that someone in the company had shredded documents relating to a personal injury court case against the company. Cooper denies that executives ordered the documents destroyed and blamed “two, low-level, non-management rogue employees” for the destruction of the documents. The case in question results from a fatal accident in 1998. Cooper denies that the tyre in question suffered from a manufacturing defect.

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