Good news for Sequoia
Two months ago Sequoia Capital, and a couple other investors, funded a startup called NetPickle, the founders were accused of intellectual property theft by their former employer (Iconix).
Now Gigaom reports both parties have agreed to settle:
Widget-maker Netpickle has been involved in a legal tussle with anti-phishing company Iconix, which is the former employer of Netpickle co-founders Lance Tokuda and Jia Shen. Now both companies say they have reached a tentative settlement.
Both Netpickle and Iconix confirmed the settlement existed but declined to elaborate on the terms of the settlement. “Barring unforeseen problems, the litigation is done,” said Shen today, in Netpickle’s first public comments on the matter. “We’ve agreed on a constructive path” confirmed Iconix CFO Bob Zager.
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