Case Conclusion Date:January 28, 2005
Outcome:Court granted summary judgment to defendant.
Description:Storage Technology Corporation (STK) sued Cisco Systems in connection with Cisco's acquisition of NuSpeed Systems, Inc. STK sought $450 Million in damages under six different legal theories, including corporate raiding, and misappropriation of trade secrets, breach of fiduciary duty. Following extensive discovery, the federal court granted summary judgment to Cisco. This decision was appealed to the 8th Circuit Court of Appeals, which affirmed the summary judgment disposition of the case.