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News >> Technology >>
Redback and Nortel Networks settle lawsuit
By siliconindia
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Friday, 02 May 2003, 19:30 IST
SAN JOSE: Redback Networks Inc. (Nasdaq:RBAK), a provider of next-generation networking equipment, and Nortel Networks (NYSE/TSX: NT) announced that they have settled their pending lawsuit on a 'mutually acceptable' basis.
In December 2001, Redback sued Nortel Networks seeking a declaratory judgment of invalidity, unenforceability and noninfringement of five Nortel Networks patents. Nortel Networks responded that the patents were valid and enforceable, and filed a counterclaim alleging that Redback infringed the named patents.
As a result of the settlement, Nortel has agreed to dismiss the remaining patents in suit, patent numbers 4,667,324; 4,736,363; 5,608,733; 6,205,142, and the parties have entered into a patent cross-licensing agreement with each other. Additionally, Redback will pay Nortel an undisclosed fee under the cross-licensing agreement.