SureTrader
Interactive Brokers Advertisement
Home > Boards > US Listed > Computers - Software > Sphere 3D Corp. (ANY)

Sphere 3D Announces Favorable Ruling and Dismissal of

Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
dragon52 Member Profile
Member Level 
Followed By 424
Posts 24,739
Boards Moderated 3
Alias Born 01/22/01
160x600 placeholder
Report of Foreign Issuer (6-k) "Edgar (US Regulatory)" - 11/13/2017 10:51:06 AM
Report of Foreign Issuer (6-k) "Edgar (US Regulatory)" - 11/13/2017 6:07:53 AM
Report of Foreign Issuer (6-k) "Edgar (US Regulatory)" - 11/9/2017 4:32:50 PM
Sphere 3D Reports Third Quarter Fiscal Year 2017 Financial Results "GlobeNewswire Inc." - 11/9/2017 4:05:00 PM
Overland-Tandberg Announces Availability of Next-Generation LTO-8 "GlobeNewswire Inc." - 11/8/2017 4:00:00 AM
Report of Foreign Issuer (6-k) "Edgar (US Regulatory)" - 10/30/2017 12:56:21 PM
Sphere 3D Provides Corporate Update and Announces Investor Conference Call "GlobeNewswire Inc." - 10/30/2017 8:00:00 AM
Report of Foreign Issuer (6-k) "Edgar (US Regulatory)" - 10/11/2017 2:29:27 PM
Sphere 3D Announces Favorable Ruling and Dismissal of Lawsuit "GlobeNewswire Inc." - 10/11/2017 8:30:00 AM
Overland-Tandberg’s rdxLOCK Software blocks software security threats like Ransomware "GlobeNewswire Inc." - 10/10/2017 4:00:00 AM
Sphere 3D Continues to see Larger Customer Wins for HVE after Being Awarded another Contract in Excess of $1 Million "GlobeNewswire Inc." - 10/3/2017 8:45:00 AM
Sphere 3D Announces Amendment of Opus Credit Agreement to Extend Maturity Date of Credit Facilities to March 31, 2018 "GlobeNewswire Inc." - 9/21/2017 7:00:00 AM
Report of Foreign Issuer (6-k) "Edgar (US Regulatory)" - 9/21/2017 6:01:33 AM
Notice of Effectiveness (effect) "Edgar (US Regulatory)" - 8/29/2017 6:01:55 AM
Sphere 3D Introduces New Datrium Ready Nodes for the Open Software Defined Data Center "GlobeNewswire Inc." - 8/28/2017 8:30:00 AM
Sphere 3D Introduces New HVE HyperConverged Open Architecture with Support for Glassware 2.0 Containers and V3 Desktop Cloud ... "GlobeNewswire Inc." - 8/28/2017 8:30:00 AM
Sphere 3D’s Glassware 2.0 Now Available as an Open Virtual Appliance for Deployment on VMware ESXi Hosts and on HVE All Fla... "GlobeNewswire Inc." - 8/28/2017 8:30:00 AM
Securities Registration: Employee Benefit Plan (s-8) "Edgar (US Regulatory)" - 8/24/2017 4:29:08 PM
Securities Registration (foreign Private Issuer) (f-3/a) "Edgar (US Regulatory)" - 8/24/2017 6:03:07 AM
Amended Statement of Beneficial Ownership (sc 13d/a) "Edgar (US Regulatory)" - 8/18/2017 4:13:08 PM
Report of Foreign Issuer (6-k) "Edgar (US Regulatory)" - 8/15/2017 5:02:52 PM
Sphere 3D’s HVE VDI Coupled with Overland-Tandberg SnapServer All Flash Array Selected by FTSE Listed Company for Strategic... "GlobeNewswire Inc." - 8/15/2017 9:05:00 AM
Report of Foreign Issuer (6-k) "Edgar (US Regulatory)" - 8/14/2017 5:10:22 PM
Report of Foreign Issuer (6-k) "Edgar (US Regulatory)" - 8/14/2017 4:54:32 PM
Sphere 3D Reports Second Quarter Fiscal Year 2017 Financial Results "GlobeNewswire Inc." - 8/14/2017 4:05:00 PM
dragon52 Member Level  Wednesday, 10/11/17 12:32:19 PM
Re: None
Post # of 45377 
Quote:
Sphere 3D Announces Favorable Ruling and Dismissal of Lawsuit

SAN JOSE, Calif., Oct. 11, 2017 (GLOBE NEWSWIRE) -- Sphere 3D Corp. (NASDAQ:ANY), today announced that the Commercial Division of the Supreme Court of the State of New York has granted to its wholly-owned subsidiary, Overland Storage, summary judgment on all claims brought against Overland by Special Situations Fund III QP, L.P., Special Situations Private Equity Fund, L.P., Special Situations Technology Fund, L.P., and Special Situations Technology Fund II, L.P. (collectively, the "Special Situations Funds") under a December 2010 litigation funding agreement.

In December 2010, Special Situations Funds invested in a patent litigation brought by Overland through an agreement containing a change-of-control provision under which the Special Situations Funds would receive a $6 million payout if Overland undertook a transaction falling within the provision before the patent litigation was resolved.

In January 2014, Overland acquired Tandberg Data Holdings S.?.R.L. In May 2014, the Special Situations Funds sued Overland in the Commercial Division of the Supreme Court of the State of New York, claiming that they were entitled to a payout because Overland's acquisition of Tandberg allegedly fell within the change-of-control provision.

Overland subsequently settled the patent litigation in a manner that triggered no payment to the Special Situations Funds. The Special Situations Funds then amended their complaint to claim alternatively that Overland had breached the implied covenant of good faith by settling the patent litigation in a manner designed to avoid a payment obligation to them. After the close of discovery, the parties filed cross-motions for summary judgment. On October 10, 2017, the Court entered an order granting Overland's motion for summary judgment and dismissing the Special Situations Funds' complaint in its entirety with prejudice.





Dragon52
Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
Follow Board Follow Board Keyboard Shortcuts Report TOS Violation
X
Current Price
Change
Volume
Detailed Quote - Discussion Board
Intraday Chart
+/- to Watchlist