NEW YORK-Lucent Technologies Inc. will pay Lightbridge Inc. $1.4 million to settle a lawsuit between the two companies. The settlement arises out of a software distribution deal gone sour.
Lightbridge disclosed the payment in a filing with the Securities and Exchange Commission. According to the filing, Lucent scored a deal with Lightbridge in 1997 to sell its Fraudbuster software. Lucent sold the offering to Sprint, Cox and others. However, the companies disagreed over the financial details of the deal-a disagreement that eventually spilled into a Massachusetts court in 2001.
Under the settlement, Lightbridge agrees to release Lucent “from all claims arising out of either the agreement or the software product that was subject to the agreement.”
