Zscaler Says Symantec Lawsuits Dismissed With Prejudice
January 14 2020 - 8:16AM
Dow Jones News
By Chris Wack
Zscaler Inc. (ZS) said Tuesday all patent lawsuits filed by
Symantec against Zscaler have been dismissed with prejudice.
Zscaler said the dismissal resulted from the execution of a
settlement agreement between Zscaler and Broadcom Inc (AVGO)
following Broadcom's acquisition of the patents underlying the
Symantec lawsuits as a part of its purchase of the Symantec
enterprise security business.
Zscaler will make a payment of $15 million to Broadcom, and
Broadcom will provide Zscaler with a patent license, release and
covenant not to sue. The other terms of the settlement are
confidential.
Zscaler shares were up 2% to $60.50 in premarket trading.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
January 14, 2020 08:01 ET (13:01 GMT)
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