SMC Networks Settles Lawsuit With Hitron

Irvine-based SMC Networks said Friday that it has settled a lawsuit filed by the company against Taiwanese electronics firm Hitron Technologies. Financial details of the deal were not disclosed. SMC had filed the lawsuit in July of 2012, against Hitron and two of SMC's former executives, claiming trade secret misappropriation, business interference and breach of fiduciary duties. None of the terms of the confidential settlement were relased by the companies, which they said will allow for dismissal of all the charges.