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DataMEG reaches settlement

DataMEG announced Wednesday that the Washington-based communications hardware company has reached an out-of-court settlement that ends a lawsuit brought by cross-town rival Quantum Advanced Technologies. In February 2000, Washington-based Quantum filed suit against DataMEG and its top executives, alleging that the defendants misappropriated confidential, proprietary and trade-secret information from Quantum and violated the Trade Secrets Act and contracts between the companies. DataMEG said the settlement involves a common stock swap between the companies but would not release other details. DataMEG President Andrew Benson said in a statement that all parties "are delighted at the prospect of getting this expensive and distractive issue behind us and look to move forward in a positive manner to conclude the important business matters before us."

    DataMEG announced Wednesday that the Washington-based communications hardware company has reached an out-of-court settlement that ends a lawsuit brought by cross-town rival Quantum Advanced Technologies. In February 2000, Washington-based Quantum filed suit against DataMEG and its top executives, alleging that the defendants misappropriated confidential, proprietary and trade-secret information from Quantum and violated the Trade Secrets Act and contracts between the companies.

    DataMEG said the settlement involves a common stock swap between the companies but would not release other details. DataMEG President Andrew Benson said in a statement that all parties "are delighted at the prospect of getting this expensive and distractive issue behind us and look to move forward in a positive manner to conclude the important business matters before us."