LAWSUITS NEWS & LEGAL INFORMATION
Telecom Settlement
Sydney, Australia: (Mar-04-08) Ipernica Ltd brought a lawsuit against Ericsson and Longreach, in federal court. Sources close to the case revealed that the parties had reached a settlement and entered into an agreement to resolve the dispute. Under the terms of the agreement, Ipernica, Ericsson and Longreach have agreed to settle the litigation on a no-liability basis.
Ericsson agreed to pay Ipernica $30 million, which will be payable by March 18, 08. Spokespersons stated that though certain terms of the settlement are confidential, Ipernica expects that, after final calculation and payment of amounts due to its profit share partners, it will retain about $20million from the settlement. [TRADING MARKETS: IPERNICA SETTLES WITH ERICSSON AND LONGREACH]
Published on Mar-5-08
Ericsson agreed to pay Ipernica $30 million, which will be payable by March 18, 08. Spokespersons stated that though certain terms of the settlement are confidential, Ipernica expects that, after final calculation and payment of amounts due to its profit share partners, it will retain about $20million from the settlement. [
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