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UTStarcom, Starent Networks Corp Settle Patent Issue (UTSI,STAR)
Oct 15, 2009 (SmarTrend(R) News Watch via COMTEX) --
10/15/2009 - UTStarcom Inc. (NASDAQ:UTSI) said Thursday that it settled a patent dispute with Starent Networks Corp. (NASDAQ:STAR) that began in 2005. Under the settlement, Starent will make a one-time payment of $3.5 million to UTStarcom in exchange for a perpetual royalty-free license to UTStarcom patents. The terms also include dismissal of two pending lawsuits in U.S. District Courts in Illinois and California.
Write to Chip Brian at cbrian@tradethetrend.com
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