Aspen Technology Announces Entry of Judgment in Litigation with Former Employee
Aspen Technology, Inc. (NASDAQ: AZPN) announced that on January 9, 2012, the U.S. District Court for the Southern District of Texas, sitting in Houston, entered a final judgment and permanent injunction in litigation brought by AspenTech against a former AspenTech employee, Dr. Tekin Kunt, for violations of Dr. Kunt's confidentiality and non-competition agreement with AspenTech, in the case entitled Aspen Technology, Inc. v Tekin A. Kunt and M3 Technology, Inc. AspenTech continues to assert claims in this litigation against M3 Technology, Inc., Dr. Kunt's former employer, including claims for copyright infringement and misappropriation of trade secrets relating to AspenTech's proprietary software.
The judgment, which was entered with Dr. Kunt's consent, declares the confidentiality and non-competition agreement between AspenTech and Dr. Kunt to be valid and enforceable in all respects. The agreement provided that its non-competition and non-solicitation provisions expired one year after Dr. Kunt's departure from AspenTech. As part of the recently-entered judgment, Dr. Kunt is enjoined from violating those non-competition and non-solicitation provisions with AspenTech for an additional year from entry of the judgment, and he is permanently enjoined from violating other provisions of the agreement. The judgment also provides that Dr. Kunt will make a payment to AspenTech.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.