Welcome, visitor! Register

Stream Recoups Legal Fees following Dismissal of Solavei Suit

MLM News December 12, 2015

Stream Recoups Legal Fees following Dismissal of Solavei Suit
Rate this post

Stream has received another favorable ruling in its legal dispute with former competitor Solavei. A Dallas District Court judge has awarded Stream hundreds of thousands of dollars in legal fees arising from a lawsuit brought by Solavei in January 2015, falsely claiming misappropriation of trade secrets.

Energy provider Stream launched mobile services in January, six months after backing out of merger talks with Seattle-based Solavei. Pointing to a confidentiality agreement signed by both companies, Solavei claimed senior Stream executives had used knowledge of Solavei’s technology, social marketing strategies, and other privileged information to roll out its mobile business.

A June ruling by Judge Craig Smith of the 192nd District Court dismissed with prejudice Solavei’s allegations against Stream. On Dec. 4, Judge Smith went a step further, awarding Stream $346,000 to cover legal expenses incurred by the company. Under the Texas Uniform Trade Secrets Act, a court may grant attorney’s fees to a prevailing party when, in cases such as Stream’s, claims of trade secret misappropriation are found to have been made in bad faith.

“Today’s court’s order resoundingly reinforces what we have insisted from the commencement of this dispute: that Solavei’s allegations were baseless and maliciously designed to interfere with the nationwide launch of Stream’s mobile business,” Mark “Bouncer” Schiro, Stream President and CEO, said in a statement. “With this final vindication, our Associates can rest assured that this lawsuit soon will be history.”

On the same day Stream recouped its legal fees, Solavei shuttered its mobile business. The company had filed a Chapter 11 bankruptcy in June 2014, amid talks with Stream. After Stream withdrew from the talks, Solavei merged with Netherlands-based Aspider, a mobile infrastructure and services brand; however, plans to restructure the business never came to fruition, and Solavei later announced it would discontinue its services as of Dec. 4, 2015.
<img src=”https://mlmnewsblog.com/2015/12/stream-recoups-legal-fees-following-dismissal-of-solavei-suit”1″ width=”1″ alt=””>

top-5-australian-business-directories-free-listing

No Tags

347 total views, 1 today

  

Sponsored Links

Leave a Reply

  • PACL - आज आ सकता है निवेशकों के दो करोड़ रुपए का फैसला

    by on March 11, 2015 - 59 Comments

    PACL – आज आ सकता है निवेशकों के दो करोड़ रुपए का फैसला5 (100%) 2 votes मध्य प्रदेश/रतलाम। PACL में फंसे निवेशकों की राशि पर फैसला बुधवार को आने की संभावना है। सेट यदि कंपनी को रुपए लौटाने का आदेश देता है तो एक साल बाद निवेशकों को पैसा मिलेगा। कंपनी आरडी, एफडी सहित अन्य […]

  • KWIL कंपनी ने उगाहे झारखंड से 300 करोड़

    by on February 17, 2015 - 13 Comments

    KWIL कंपनी ने उगाहे झारखंड से 300 करोड़Rate this post कोलकाता: Kolkata Weir Industries Limited नाम की चिटफंड कंपनी पर पांच वर्षो में झारखंड से 300 करोड़ रुपये की उगाही कर गायब होने का आरोप है.  इस चिटफंड कंपनी के एजेंट तमाल कुमार जाना ने बताया : झारखंड में कंपनी ने 2009 में अपना व्यवसाय शुरू किया […]

  • The Direct Selling Association – No Backbone When You Are Under Sieg

    by on September 3, 2015 - 0 Comments

    The Direct Selling Association – No Backbone When You Are Under SiegRate this post The Direct Selling Association – No Backbone When You Are Under Sieg   According to the Direct Selling Organisation (DSA) website: “DSA’s services to members are designed to meet the needs of one person critical to the industry’s growth and future […]

  • VISHWAMITRA INDIA और SAI PRASAD पर हुई छापेमारी, 24 गिरफ्तार

    by on May 1, 2015 - 0 Comments

    VISHWAMITRA INDIA और SAI PRASAD पर हुई छापेमारी, 24 गिरफ्तारRate this post झारखंड /जमशेदपुर – चिटफंड कंपनियों पर नकेल कसने के लिए झारखंड उच्च न्यायालय की फटकार के बाद सरकारी मशीनरी हरकत में आ गई है. रांची जिला प्रशासन ने गुरुवार को दो चिटफंड कंपनियों के विरुद्ध अभियान चलाया.  पुलिस ने गुरुवार को राजधानी में […]

  • Talk Fusion Anticipates Record-Breaking Dream Getaway

    by on September 30, 2015 - 0 Comments

    Talk Fusion Anticipates Record-Breaking Dream GetawayRate this post Talk Fusion Anticipates Record-Breaking Dream Getaway   With only 6 weeks left in the qualification period, Talk Fusion is already expecting attendance to break all previous records for their 6th Dream Getaway vacation incentive from December 3-7, 2015. Talk Fusion rewards qualified Associates from across the globe […]

Subscribe to News via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 24 other subscribers