Best sues APC?????
Just read this press release, does anyone know what its about? Why would Best be suing over technology issues, their product (technology wise) is quite different than APC's? Could this be what been keeping that stock right below the $20 point?
Steve...
American Power says sued by General Signal
WEST KINGSTON, R.I., Aug 25 (Reuters) - American Power Conversion Corp. said Wednesday
General Signal Power Systems Inc., parent company of Best Power, has sued American Power alleging
patent infringement and false advertising.
The company said it continue to remain comfortable with the $0.93 per share full-year profit
expectation it set forth in its second quarter earnings release.
The company said it does not expect the ultimate disposition of the case to have a material adverse
effect on its consolidated financial position or results of operations and liquidity.
American Power said the lawsuit, filed in U.S. District Court for the Western District of Wisconsin, seeks unspecified damages and injunctive
relief.
``We are currently reviewing this lawsuit and intend to vigorously defend against it,' Rodger Dowdell Jr., American Power's president and
chief executive, said in a statement.
American Power said it recently settled a case with Best Power over a contractual relationship between Best and American Power
subsidiary Silcon Power Electronics A/S. The terms of the settlement, which were favorable to American Power, included Best paying
monetary compensation, American Power said. No further details were given.
American Power Conversion makes products such as surge suppressors, uninterruptible power supplies and power conditioning equipment
and related software. |
