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Apple and Lithium Battery Maker A123 Systems in Final Stage of Lawsuit Settlement

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In February Patently Apple was first to extensively report on A123 Systems, an advanced lithium battery maker, suing Apple on several counts including Employee Raiding and Misappropriation of Trade Secrets. Two weeks later we reported that Apple was already working on a settlement. Today the Boston Globe reports that Apple and A123 Systems are saying the federal lawsuit is nearly settled.

 

More specifically this time around, we learn that "a federal judge granted A123 more time to finalize the settlement with Apple. In a court filing, the two sides reported that they "have reached an agreement, signed a term sheet, and are in the process of drafting a final settlement agreement."

 

Xconomy, who was first to break the news yesterday, quoted A123 Systems as saying that the projects the former employees were working on had been "principally shut down" since the employees that Apple poached departed – and alleged it suffered "severe economic impact" because of it.

 

A123 Systems v. Apple Drafting Settlement

 

 

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