Report: Charles & Colvard Sues Former Customer
By JCK Online Staff -- JCK Online, 6/18/2008 5:22:00 PM
Charles & Colvard filed suit June 16 against K&G Creations in U.S. District Court, according to a report in the Triangle Business Journal.
Morrisville, N.C.-based company said its owed $2.8 million for purchases that K&G made under a manufacturing agreement that ended Dec. 31, 2007, the newspaper reports quoting documents filed by the moissanite manufacturer with the Securities and Exchange Commission.
K&G, which manufactures moissanite jewelry, was one of Charles & Colvard's major customers, accounted for 11 percent of Charles & Colvard 2007 sales, the newspaper reports.
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