TruePosition and Ericsson settle antitrust litigation

By GlobeNewswire,  July 31, 2014, 09:04:00 AM EDT


TruePosition, Inc. (TruePosition) and Ericsson (NASDAQ:ERIC) announced today that they have reached an amicable settlement of TruePosition's antitrust case against Ericsson. The lawsuit had alleged undue delay in the standardization of Uplink Time Difference of Arrival (U-TDOA) technology for LTE wireless networks in 3GPP. The terms of the settlement will not be publicly disclosed, except that TruePosition has withdrawn any allegations of wrongdoing against Ericsson, and Ericsson did not pay TruePosition any money to settle the case.

Commenting on the settlement, Craig Waggy, TruePosition's CEO said: "We are pleased that the primary aim of the lawsuit - full standardization of U-TDOA for LTE - has now been achieved. As of June 2014, U-TDOA has completed the performance stage of 3GPP standardization and is fully included in Release 11 of the 3GPP standards. We also are pleased to move forward with marketing our fully standardized U-TDOA LTE solution to wireless carriers with critical public safety needs, such as E-911."

Nina Macpherson, Senior VP and General Counsel, Ericsson, also commented on the settlement, stating, "We are happy to put this case behind us. Ericsson takes pride in its technical leadership in wireless standard setting activities and looks forward to continuing to take a leading role in future 3GPP standard setting, including for LTE-Advanced and future generations of wireless technology."

NOTES TO EDITORS

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Ericsson is the driving force behind the Networked Society - a world leader in communications technology and services. Our long-term relationships with every major telecom operator in the world allow people, businesses and societies to fulfill their potential and create a more sustainable future.

Our services, software and infrastructure - especially in mobility, broadband and the cloud - are enabling the telecom industry and other sectors to do better business, increase efficiency, improve the user experience and capture new opportunities.

With more than 110,000 professionals and customers in 180 countries, we combine global scale with technology and services leadership. We support networks that connect more than 2.5 billion subscribers. Forty percent of the world's mobile traffic is carried over Ericsson networks. And our investments in research and development ensure that our solutions - and our customers - stay in front.

Founded in 1876, Ericsson has its headquarters in Stockholm, Sweden. Net sales in 2013 were SEK 227.4 billion (USD 34.9 billion). Ericsson is listed on NASDAQ OMX stock exchange in Stockholm and the NASDAQ in New York.

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FOR FURTHER INFORMATION, PLEASE CONTACT

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TruePosition and Ericsson settle antitrust litigation





This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Ericsson via Globenewswire

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This article appears in: News Headlines

Referenced Stocks: ERIC


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