FraudNews
03-26-2013, 12:27 PM
$70 million… that’s how much a jury in Wilmington, Delaware charged networking equipment giant Cisco to pay after it had a failed partnership with XpertUniverse, a patent licensing company. The case also dealt with patent infringement.
Cisco is ordered to pay the money for civil fraud damages after the partnership failed and infringing on two patents XpertUniverse had regarding offering persons the ability to get in touch with experts online to answer any questions. This resulted in fines of more than $33,000.
The suit was filed back in 2009 and the trial lasted all of two weeks. According to XpertUniverse, Cisco officials kept dragging them along for more than six months with the chance of a worthwhile partnership, never letting them know that they had dismissed the deal. XpertUniverse called this fraudulent concealment and its legal team said Cisco’s actions helped in the company’s destruction.
Cisco announced it would appeal and feels evidence given in the trial does not back the rendered verdict. Cisco said the judge has several issues to think about before deciding if the verdict the jury gave will stand.
XpertUniverse’s legal team is extremely happy its client was vindicated.
Cisco is ordered to pay the money for civil fraud damages after the partnership failed and infringing on two patents XpertUniverse had regarding offering persons the ability to get in touch with experts online to answer any questions. This resulted in fines of more than $33,000.
The suit was filed back in 2009 and the trial lasted all of two weeks. According to XpertUniverse, Cisco officials kept dragging them along for more than six months with the chance of a worthwhile partnership, never letting them know that they had dismissed the deal. XpertUniverse called this fraudulent concealment and its legal team said Cisco’s actions helped in the company’s destruction.
Cisco announced it would appeal and feels evidence given in the trial does not back the rendered verdict. Cisco said the judge has several issues to think about before deciding if the verdict the jury gave will stand.
XpertUniverse’s legal team is extremely happy its client was vindicated.