Nanotechnology Now

Our NanoNews Digest Sponsors



Heifer International

Wikipedia Affiliate Button


android tablet pc

Home > Press > Tegal Settles Fee Dispute With Former Attorneys

Abstract:
Tegal Corporation (Nasdaq:TGAL), a leading designer and manufacturer of plasma etch and deposition systems used in the production of integrated circuits and nanotechnology devices, today announced that it had settled a fee dispute with the second of its former attorneys for $3.8 million.

Tegal Settles Fee Dispute With Former Attorneys

PETALUMA, CA | Posted on January 22nd, 2008

On January 16, 2008, Tegal Corporation (the "Company") and its wholly owned subsidiary, Sputtered Films, Inc. ("SFI"), received a Notice of Acceptance of Written Offer to Compromise from Keker & Van Nest LLP ("KVN"), one of the two law firms that had represented SFI in its lawsuit against Sergey Mishin, Advanced Modular Sputtering ("AMS"), Agilent Technologies, Inc., Avago Technologies U.S., Inc., Avago Technologies Wireless (U.S.A) Manufacturing, Inc. and other defendants, which was settled in November 2006 (the "AMS Settlement"). As previously disclosed in the Company's SEC filings, KVN and Gonzalez & Leigh LLP ("G&L") claimed they were entitled, as a result of the AMS Settlement, to receive contingent fees from the Company and SFI. KVN had claimed it was owed fees in the amount of approximately $6.72 million; G&L had claimed that it was owed approximately $2.25 million. As previously disclosed in a Form 8-K filed with the SEC on August 20, 2007, the Company executed a Mutual General Release and Settlement Agreement dated August 15, 2007 with G&L and paid G&L $995,000 pursuant to that agreement. In connection with KVN's acceptance of the Company's Written Offer to Compromise and the execution of a mutual general release, dated as of January 18, 2008, the Company has paid KVN $3.8 million.

As previously disclosed in the Company's SEC filings, the Company had placed $19.5 million, representing the gross cash proceeds from the November 2006 settlement, into suspense. As a result of the developments described above, the Company will eliminate the suspense along with other liabilities related to the AMS Settlement, and the net proceeds will be taken to other income in the fiscal fourth quarter ending March 31, 2008.

####

About Tegal Corporation
Tegal provides process and equipment solutions to leading edge suppliers of advanced semiconductor and nanotechnology devices. Incorporating unique, patented etch and deposition technologies, Tegal’s system solutions are backed by over 35 years of advanced development and over 100 patents. Some examples of devices enabled by Tegal technology are energy efficient memories found in portable computers, cellphones, PDAs and RFID applications; megapixel imaging chips used in digital and cellphone cameras; power amplifiers for portable handsets and wireless networking gear; and MEMS devices like accelerometers for automotive airbags, microfluidic control devices for ink jet printers; and laboratory-on-a-chip medical test kits.

For more information, please click here

Contacts:
Tegal Corporation
Christine Hergenrother, VP and CFO, 707-763-5600
or
The Blue Shirt Group
Rakesh Mehta or Chris Danne, 415-217-7722

Copyright © Business Wire 2008

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

NREL Announces New Center Directors to lead R&D, Analysis Efforts September 30th, 2014

Yale University and Leica Microsystems Partner to Establish Microscopy Center of Excellence: Yale Welcomes Scientists to Participate in Core Facility Opening and Super- Resolution Workshops October 20 Through 31, 2014 September 30th, 2014

Speed at its limits September 30th, 2014

Research mimics brain cells to boost memory power September 30th, 2014

Legal

SUNY CNSE and Albany Law School Partner to Create First-of-its-Kind Nanotechnology Education and Training Program November 5th, 2013

US Court of Appeals characterizes Wyatt Technology Corporation Lanham Act claims as “groundless, unreasonable, vexatious or pursued in bad faith” May 31st, 2013

Fluidigm Files Lawsuit against NanoString’s Deceptive Marketing: Fluidigm Sues NanoString for False and Misleading Advertising under the Lanham Act November 8th, 2012

Photonic gels are colorful sensors: Rice, MIT researchers create thin-film polymer metamaterial with potential for many uses October 10th, 2012

Announcements

Park Systems Announces Outsourced Analytical Services Including AFM Surface Imaging, Data Analysis and Interpretation September 30th, 2014

Ad-REIC vaccine: A magic bullet for cancer treatment September 30th, 2014

New Topical Hemostatic Agent: Neutral Self-Assembling Peptide Hydrogel September 30th, 2014

Chemical interactions between silver nanoparticles and thiols: A comparison of mercaptohexanol again September 30th, 2014

NanoNews-Digest
The latest news from around the world, FREE



  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More














ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project







© Copyright 1999-2014 7th Wave, Inc. All Rights Reserved PRIVACY POLICY :: CONTACT US :: STATS :: SITE MAP :: ADVERTISE