LAWSUITS NEWS & LEGAL INFORMATION
Technology Contract
This is a settlement for the Commercial lawsuit.
San Francisco, CA: (Dec-06-07) EADS Deutschland GmbH brought a lawsuit against Herley Industries Inc., alleging that the company breached a transfer of technology agreement entered into in May of 2001. Sources stated that in a recent development in the case, the parties had entered into a settlement agreement, in which Herley Industries agreed to pay $6 million to resolve the dispute. Spokespersons on both sides stated that the settlement was a better option, considering that the costs, including legal fees, of continued litigation could have far exceeded the amount of the settlement. The settlement paves the way for an amicable business relationship between the two companies.
[CNN NEWS: TECHNOLOGY CONTRACT]
Published on Dec-7-07
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