LONDON Research organization IMEC vzw (Leuven, Belgium) "may have been negligent in its representations towards third parties" in dealings that have been examined in a long-running legal case, according to IMEC in a statement. However, the recently concluded trial also ruled that "no damages to the shareholders of Rose Research have been caused by IMEC," IMEC also said.
The verdict came on March 20, 2007, after IMEC, together with three other defendants had been summoned to appear in the Dallas District court at the end of 2003 by the shareholders of the Rose Research Group.
The court case related to a license issued by IMEC to Rose Research back in 1996 for the use of research results for commercialization of technology.
According to the website of attorneys at law Susman Godfrey LLP the Rose Group Inc., together with other plaintiffs, sued IMEC in Dallas, Texas, alleging that IMEC and others engaged in a scheme to defraud them. The Rose Group plaintiffs alleged that they were defrauded by misrepresentations about the market-readiness of certain technology, and lost money based on these misrepresentations.
The technology at the heart of the issue is believed to be a system called Photonlink, that allows CMOS integrated circuits to be interconnected with fiber bundles carrying up to 5,000 channels (see EE Times' September 1999 story).
IMEC's defense was that the license was granted without any guarantee on the commercialization of the technology, and that due to circumstances beyond IMEC’s control, bringing the developments to market proved more difficult than expected. "IMEC is very pleased with the jury’s fair and correct verdict," said IMEC in the statement.