another version of this follows. what do you all think this is worth per share?
Headline: DSC Collects $140 Million Judgment from Next Level for Theft of Trade
Secrets
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DALLAS, Nov. 7 /PRNewswire/ -- DSC Communications Corporation
(NASDAQ:DIGI) announced today that, following a lengthy appeals process, a
final judgment has been entered in DSC's favor in its theft of trade secrets
case against Next Level Communications and former DSC employees, Thomas Eames
and Peter Keeler. Eames and Keeler founded Next Level Communications, while
still employees of DSC, to compete against the company.
The final judgment was entered by Judge Paul Brown, in U.S. District
Court, Eastern District of Texas, Sherman Division. Included were damages for
theft of trade secrets, punitive damages, court costs and interest from
July 3, 1997. These damages, which totaled $140,691,717.81, were paid in full
today by Next Level Communications.
DSC's Vice President and General Counsel George Brunt said: "While the
wheels of justice may turn slowly, it is gratifying to see that crime does not
pay. Further, DSC is committed to protecting its intellectual property. That
message should be clear from this long court case and ultimate recovery."
DSC Communications is a global provider of advanced telecommunications
products, including digital switching, transmission, access and network
management systems. DSC's integrated network solutions support voice, data
and video services, such as intelligent network, wireless, Internet and
switched digital video applications. DSC had annual revenues of approximately
$1.4 billion in 1996 and is active in more than 60 countries worldwide.
SOURCE DSC Communications Corporation
-0- 11/07/97
/CONTACT: Terry Adams of DSC Communications Corporation, 972-519-4358/ |
