CONSILIUM SETTLES LAWSUIT WITH PROMIS
CONSILIUM SETTLES LAWSUIT WITH PROMIS MOUNTAIN VIEW, Calif., Feb. 25 /PRNewswire/ -- Consilium Inc.
(NASDAQ: CSIM) today announced that it has reached a settlement of all pending litigation with Promis Systems Corp. and four ex-Consilium employees.
Consilium had sued Promis, the four former employees and Promis' president, Elliot Wasserman, for misappropriation of trade secrets, breach of confidentiality, conspiracy and fraud. Promis and one of the former Consilium employees had filed counterclaims against Consilium. Promis and the ex-employees have agreed to a permanent injunction restricting the company and ex-employees from certain activities involving Consilium's trade secrets and customers for two years from the date of the agreement. Promis also has agreed to make a cash payment of an undisclosed amount of money. Also, certain of the ex- employees are restricted from certain account activity for a specified period of time. The settlement results in the dismissal of all claims by any parties involved in the litigation. Consilium has agreed to rescind its repurchase rights of 708 shares of Consilium stock, previously acquired by one ex-employee. Consilium Inc. is the leading supplier of integrated plant floor management software and services. With its FlowStream and WorkStream product lines, Consilium offers a suite of comprehensive integrated plant management solutions that direct the execution of the manufacturing process and allow manufacturers to achieve World Class Manufacturing. The company is headquartered in Mountain View. -0- 2/25/92 NOTE: WorkStream is a registered trademark and FlowStream is a trademark of Consilium Inc. /CONTACT: Mark Finkel of Consilium Inc., 415-691-6100; Joanne Marlin or Susan Thomas of Thomas Associates Inc., 415-325-6236, for Consilium Inc./ (CSIM) CO: Consilium Inc.; Promis Systems Corp. ST: California IN: CPR SU:
DG -- SJ004 -- 2499 02/25/92 16:05 EST
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|Date:||Feb 25, 1992|
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