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UTStarcom, PCD Come to Terms Over Supply Suit

Jul 2, 2009, 10:05 AM by Eric M. Zeman

UTStarcom and Personal Communications Devices recently announced a settlement agreement to "satisfy potential liabilities relating to certain inventory delivered to PCD" that came about during a merger agreement the two companies signed in July 2008. UTStarcom has agreed to waive certain benefits and the right to make any future investments in PCD. UTStarcom will also have to pay PCD $11.1 million to cover the inventory liabilities, and allow PCD to regain some of the equity it sold to UTStarcom.

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