|
Microsoft settles lawsuit
|
 |
February 21, 2001: 9:55 a.m. ET
Software maker, Bristol Technology agree to end ongoing legal dispute
|
NEW YORK (CNNfn) - Software maker Microsoft Corp. and software developer Bristol Technology announced an agreement settling the litigation between the companies that began in 1998.
The companies said the terms of the settlement will remain confidential, but the claims of both parties are dismissed with prejudice, meaning the suit cannot be refiled.
 The litigation began in August 1998 when Danbury, Conn.-based Bristol filed its lawsuit against Redmond, Wash.-based Microsoft (MSFT: Research, Estimates). A jury found in favor of Microsoft on all antitrust claims and in favor of Bristol on one claim under the Connecticut Unfair Trade Practices Act.
In the past several months, the Federal District Court awarded Bristol punitive damages for the Connecticut claim, attorney's fees and other relief, all of which are covered by this settlement, the companies said in a statement.
"Bristol is very pleased with the conclusion of this litigation," Bristol CEO Keith Blackwell said. "This settlement is great news for the industry and Bristol because it allows Bristol to focus our time and resources on what we do best: developing excellent software and providing world class service."
"We are pleased to reach this agreement in order to put this matter behind us once and for all," Dan Neault, Microsoft's director of business development for the platforms group, said.
Microsoft stock opened 6 cents lower at $55.81 Wednesday. The stock has been trading in a 52-week range of $115 to $40.25.
-- from staff and wire reports 
|
|
|
|
|
 |
|
