[0] HNC and Nestor Announce Settlement of Lawsuit.Business Editors & High-Tech Writers SAN DIEGO--(BUSINESS WIRE)--Jan. 19, 2001 HNC (HNC Software Inc., San Diego, CA) A software company that specialized in products that detect credit card fraud, manage merchant risk, automate lending decisions and home valuations and manage retail inventories. Founded in 1986 by Robert Hecht-Nielsen and Todd W. Software Inc. (Nasdaq:HNCS HNCS Host Naval Computer System HNCS Host Navy Combat Systems ) and Nestor Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :NEST) are pleased to announce that they have reached a settlement of their differences with regard to claims alleged in the lawsuit in Action No. 98 569 in the United States District Court for the District of Rhode Island The United States District Court for the District of Rhode Island is the Federal district court whose jurisdiction is the state of Rhode Island. The District Court was created in 1790 when Rhode Island ratified the Constitution. , Nestor, Inc. v. HNC Software, Inc. The terms of the settlement are confidential. The lawsuit involved claims of patent infringement patent infringement n. the manufacture and/or use of an invention or improvement for which someone else owns a patent issued by the government, without obtaining permission of the owner of the patent by contract, license or waiver. and anti-trust. All claims against both sides have been dismissed. HNC Software is a leading provider of intelligent response, decision management and customer analytics software that enables companies in the financial, telecommunications, e-commerce and insurance industries to acquire, manage and retain customers. Founded in 1983 and headquartered in Providence, R.I., Nestor Inc. is a leading provider of innovative, neural network solutions for data-intensive, mission-critical decision applications. Nestor's client/server products incorporate innovative pattern-recognition technologies ideally suited for data-intensive, real-time decision applications. The company's products provide predictive fraud detection and case management for e-commerce fraud, credit, debit, retail and commercial card fraud, as well as merchant fraud, money laundering The process of taking the proceeds of criminal activity and making them appear legal. Laundering allows criminals to transform illegally obtained gain into seemingly legitimate funds. and customer relationship management. Nestor products are sold direct and by selected partners worldwide. For more information, call 401/331-9640 or visit: www.nestor.com. |
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