Avaya settles Y2K case
Print storyMillennium Bug still feeding lawyers
Posted in Financial News, 17th May 2004 10:14 GMT
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Lucent spin-off Avaya has settled a class action suit for damages related to the year 2000. The case relates to the ability of some Avaya products to deal with date functions after 1 January 2000.
Members of the class suit who bought certain telecom products between 1990 and 1999 are eligible for credits of up to $110m, or cash alternatives. If they don't want credit for Avaya products they can claim a cash equivalent of 25 per cent the value of their vouchers.
Class members can claim 45 per cent off Avaya products or 30 per cent off Avaya services.
The agreement ends all Avaya's outstanding Y2K-related lawsuits. The case remains pending in West Virginia and is subject to approval by the state court. Lucent is responsible for paying a percentage of costs above $50m.®
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