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Strategies & Market Trends : Contrarian Investing

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To: pcyhuang who wrote (1364)	8/13/2007 10:51:17 AM
From: pcyhuang	Read Replies (1) of 4080

UTSI -- Update WSJ Online reports: Semiconductor company PMC-Sierra Inc. (PMCS) said a subsidiary has settled a contract and warranty dispute with UTStarcom Inc., a network solutions company. UTStarcom and PMC-Sierra's Passave unit reached a settlement agreement on Tuesday, according to a Thursday Securities and Exchange Commission filing. "In exchange for a dismissal of all claims with prejudice, Passave agreed to pay a cash amount and provide a limited amount of product to UTStarcom over the next three years," Santa Clara, Calif.-based PMC-Sierra said in the filing. The filing didn't specify how much Passave will pay UTStarcom. UTStarcom in Alameda, Calif., sued Passave in the state's Santa Clara County Superior Court in 2005 over alleged breach of contract and breach of warranty, the filing said. UTStarcom requested indemnity associated with the sale of Passave's PAS 5001 products and claimed it incurred fees and expenses of more than $30 million, the filing said. PMC-Sierra shares traded Friday morning at $7.69 each, down 22 cents. Further comments: Is it possible that IPTV will become a much pursued technology in 2008, coincide with the Beijing's Olympics? I think so. pcyhuang

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