News In Brief
Chrysler files court suit to stop GM-Toyota deal
Chrysler Corporation filed a federal court suit here Thursday to block a plan by General Motors and Toyota to build jointly a new line of subcompact cars. In the suit, Chrysler charged the landmark venture would violate federal antitrust statutes.
Chrysler asked the court to enjoin GM, the world's largest automaker, and Toyota, the world's third-largest, from consumating the deal, which was given tentative approval last month by the Federal Trade Commission. Richard Goodyear, a Chrysler vice-president and general counsel, said in a statement that joint manufacturing would ''have a devastating effect on competition'' in the US auto market.