Net2Phone and ADIR Settle Lawsuit Against Cisco

August 2, 2002 -- Voice over IP service provider Net2Phone Inc. (Net2Phone.com) and VoIP enabling software solutions provider ADIR Technologies Inc. announced this week that they have settled a lawsuit filed in March by the two against Cisco Systems Inc. in the New Jersey Federal Court.

The companies say the complaint sought compensatory and punitive damages on claims of misappropriation of trade secrets, fraud, unfair competition, breach of contract and breach of fiduciary duties. They say the settlement resolves all pending litigation between the companies and is subject to a confidentiality agreement.

"Both Net2Phone and ADIR are very pleased that we achieved a satisfactory resolution of this dispute so expeditiously," said Stephen Greenberg, CEO of Net2Phone.