Monday, July 14, 2008

Avanex and 3S Photonics Reach Settlement

Avanex and 3S Photonics announced resolution of their contractual disputes. While neither side admits liability, the two parties have agreed to a settlement that includes payables, receivables and lost profit under the parties' terminated global distributorship agreement, and a release by both parties of all claims asserted against each other, including the dismissal of legal actions taken in New York, California, and the Commercial Court of Evry, France. With this resolution there will be no further litigation between Avanex and 3S Photonics.

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