DEI Settles for $10 Million from Industry Competitor.VISTA, Calif.--(BUSINESS WIRE)--June 19, 1998--Directed Electronics Inc. today received a $10 million payment from vehicle security competitor Code-Alarm Inc., settling all 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. between the two companies. "It was far less than we were owed," said DEI president and chief executive officer Darrell Issa Darrell E. Issa (pronounced Eye-suh) (born November 1 1953) is an American politician and former CEO of a consumer electronics company. Since 2001, he has been a Republican member of the United States House of Representatives, representing the 49th District of , "but bringing this litigation to a conclusion and allowing us to concentrate on our core security business makes the discount more than worthwhile." The settlement ends five years of bitter litigation between the two companies. The $10 million payment, on top of the $6 million previously paid, brings DEI's total winnings to more than $16 million. "Yogi Berra Noun 1. Yogi Berra - United States baseball player (born 1925) Berra, Lawrence Peter Berra, Yogi said, 'It ain't over 'til it's over.' Well, it's finally over!" said Keith Krzewski, chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of Directed Electronics Inc. "This tumultuous chapter in our company's history is now behind us." DEI is America's largest vehicle security company, makers of Python, Sidewinder sidewinder, common name for a rattlesnake, Crotalus cerastes, found in the deserts of the SW United States. This 2-ft (60-cm), pale yellow and pink snake is named for its curious method of locomotion. and Viper, the best-selling vehicle security and convenience system in the world.
CONTACT: Directed Electronics Inc.
Kennedy Gammage, 760/599-1325
kennedy@directed.com
www.directed.com
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