Thursday, September 10, 2009
Occam Networks Settles Class Action Lawsuit
Santa Barbara-based Occam Networks said Thursday afternoon that the firm has settled a class action lawsuit, which was filed against the firm in 2007. The company said it will pay $1.7M as part of a $12.66M settlement, the remainder of which will be coming from Occam's insurers and another defendant. The lawsuit stemmed from a financial restatement made by the firm in October of 2007. Occam Networks is a provider of broadband equipment to the telecom industry.