Alcatel and IPOptical Settle Trade Secret Dispute.Business Editors, Legal Writers DALLAS--(BUSINESS WIRE)--Nov. 30, 2000 Alcatel USA, Inc. (NYSE NYSE See: New York Stock Exchange :ALA) and IPOptical, Inc. today announced that the companies have resolved a litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. pending in the United States District Court for the Eastern District of Virginia The United States District Court for the Eastern District of Virginia is one of two United States district courts serving the Commonwealth of Virginia. History During the 1960s, Judge Albert V. Bryan Jr. . The litigation between the parties commenced on June 15, 2000, with Alcatel's filing of a complaint against IPOptical and a former Alcatel employee alleging that actions taken on behalf of IPOptical by former Alcatel employees while still employed by Alcatel infringed Alcatel's copyrights, misappropriated mis·ap·pro·pri·ate tr.v. mis·ap·pro·pri·at·ed, mis·ap·pro·pri·at·ing, mis·ap·pro·pri·ates 1. a. To appropriate wrongly: misappropriating the theories of social science. Alcatel's trade secrets, and violated fiduciary obligations owed to Alcatel. IPOptical and Alcatel's former employee denied any wrongdoing wrong·do·er n. One who does wrong, especially morally or ethically. wrong  do in the litigation.
Although the details of the settlement remain confidential, the parties have agreed to settle the lawsuit on terms that include a cooperative working relationship and an equity interest in IPOptical. "We are pleased that this matter could be resolved amicably," said Alcatel's U.S. General Counsel George B. Brunt. "The settlement with Alcatel means that IPOptical can focus its energies on designing and developing innovative solutions for the next generation of router technologies," said Alex Mondrus, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , IPOptical. "We are also pleased that Alcatel and IPOptical will be able to work together in the future." About Alcatel Alcatel builds next generation networks, delivering integrated end-to-end voice and data communications data communications, application of telecommunications technology to the problem of transmitting data, especially to, from, or between computers. In popular usage, it is said that data communications make it possible for one computer to "talk" with another. solutions to established and new carriers, as well as enterprises and consumers worldwide. With 120,000 employees and sales of EURO 23 billion in 1999, Alcatel operates in more than 130 countries. For more information, visit Alcatel on Internet: http:// www.alcatel.com. About IPOptical Founded as a telecommunication industry start-up in April 2000, IPOptical, is developing network infrastructure technology and equipment designed to revolutionize the very core of the Internet. The company is focused on solving problems and issues faced by Internet Service Providers Internet service provider (ISP) Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. for the ever-increasing demand for Internet capacity by creating the ability to process multiple terabits of data with one system. Under the direction of President and CEO, Alex Mondrus, VP, Hardware Development, Greg Cinque and VP, Software Development, Paul Hershey, IPOptical is an expanding, privately-held company and presently employs senior engineers and technicians at its Northern Virginia headquarters. For more information about IPOptical, visit http://www.ipoptical.com or contact us at (703) 871-4100. |
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