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The sale of Jeskell has been expected in the wake of San Diego-based TIG's successful lawsuit against FusionStorm as a way for FusionStorm to raise the cash needed to settle that lawsuit.
The lawsuit ended in August when the two reached an out-of-court settlement after a California Superior Court jury found FusionStorm liable for misappropriation of trade secrets, breach of fiduciary duty and breach of loyalty.
FusionStorm at the time agreed to pay TIG nearly $11 million to resolve the case, covering all damages, expenses and legal fees. The date of the settlement was extended a number of times in order to give FusionStorm time to gather the resources to pay those costs.
The settlement brought to a close a bitter court battle between TIG, which ranked 155 on the VAR 500 with $267 million in sales, and FusionStorm, which ranked 115 with $437 million in sales.
TIG sued San Francisco-based FusionStorm in 2007, charging that FusionStorm, several of its executives and several former TIG employees engaged in unethical business practices related to FusionStorm's move to set up a branch office in Tampa to compete with TIG.
Next: Details To Come