AMD and Alcatel Business Systems Settle Lawsuit
SUNNYVALE, CA --
AMD (NYSE: AMD) and Alcatel Business Systems today announced the settlement of AMD's lawsuit against Alcatel Business Systems. In April, AMD filed the breach of contract suit asserting that Alcatel Business Systems had not honored the terms of its 2000 flash memory supply agreement, under which Alcatel Business Systems agreed to purchase and AMD agreed to supply flash memory products over a two-year period. The litigation, originally filed in the Supreme Court of the State of New York, had been pending in the U.S. District Court for the Southern District of New York. Terms of the settlement have been sealed as part of the agreement.
"This settlement acknowledges the validity and mutually-beneficial nature of our supply agreements," said Walid Maghribi, senior vice president of AMD and president of the company's Memory Group. "We are pleased with the terms of the settlement and look forward to cooperating with Alcatel Business Systems to produce high quality Alcatel mobile phones containing AMD's Flash architecture."