This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Stroock Client XpertUniverse Inc. Lands $70 Million Jury Verdict In Fraud And Patent Infringement Case Against Tech Giant Cisco Systems Inc.

NEW YORK, March 27, 2013 /PRNewswire/ -- Stroock & Stroock & Lavan LLP obtained a jury verdict of over $70 million in damages for fraud and patent infringement for its client XpertUniverse Inc. in its closely watched lawsuit against tech giant Cisco Systems Inc.

XpertUniverse, Inc. is a leading developer of expert location, collaboration and business intelligence solutions, and a one-time collaborator with Cisco Systems in developing software intended to improve call center technology and interactive business solutions.  Their relationship ended, however, after Cisco fraudulently concealed important information from XpertUniverse as part of a scheme to prevent XpertUniverse from partnering with Cisco's competitors while Cisco planned to launch its own products.

"The jury really saw the heart of the matter in this case – a Silicon Valley heavyweight appropriating technology from a smaller company and destroying it in the process," said Stroock Intellectual Property partner Charles Cantine, the lead attorney on the case. "The fact that they found not only patent infringement, but fraud, really speaks to what this case is about: protecting the intellectual property rights of innovators.  Had the judge allowed the jury to decide punitive damages, we believe this judgment would have been many orders of magnitude greater."

"Leading technology companies are, at the end of the day, businesses that operate in a highly competitive environment," observed Cantine. "Here, Cisco crossed the line, committed fraud and destroyed a potential competitor in the process. We are pleased the jury saw that, in this case, Cisco's conduct was clearly deceptive."

The Stroock team that handled the litigation included Partner Charles Cantine and Special Counsel Jason Sobel.  Both are part of Stroock's high tech Intellectual Property Practice, which was awarded a jury verdict of $30MM on behalf of its client Tomita Technologies International, Inc. against 3D Technologies two weeks ago.

XpertUniverse, Inc. is a developer of expert location, collaboration and business intelligence solutions, redefining customer interactions and communications through XpertSHARE — its interactive, web-based, real-time expertise locator, full-media collaboration, and web-enabled business intelligence solution.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 -1.15%
FB $117.58 0.73%
GOOG $693.01 0.29%
TSLA $240.76 -2.81%
YHOO $36.60 0.03%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs