Settlement Agreement between UTStarcom and Starent Networks

In early 2005,UTStarcom filed the first patent suit against Starent, saying Starent’s development and testing of a software upgrade for certain network technologies violated its patent. Starent filed a counterclaim, and both companies asked the U.S. Patent and Trademark Office to re-examine the relevant patent. UTStarcom in 2007 filed a second suit against Starent plus 16 individual defendants for patent infringement, misappropriation of trade secrets and other intellectual property-related claims.
Now, UTStarcom, Inc. (Nasdaq: UTSI) and Starent Networks, Corp. (Nasdaq: STAR) announced that they have agreed to settle all legal disputes between the two companies. Under the settlement, Starent will make a one-time payment to UTStarcom in the amount of $3.5 million and receive a perpetual royalty-free license to UTStarcom patents. Included in the settlement is the dismissal of two pending litigations in the United States District Courts for the Northern District of Illinois (filed on May 8, 2007) and the Northern District of California (filed on February 16, 2005).
This news is from China Mobile Phone of China electronics manufacturer.

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