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Copies of that report were released only to the attorneys from Overland and BDT, and Overland's Kelly said not even he is allowed to read it. A redacted version will be released in a few weeks to explain the ruling. "But, our counsel did say it would be positive news for us. So, now I have to sit on pins and needles to see what that positive news is."
Jeanne Wilson, president of Condor Storage, a Sedona, Ariz.-based solution provider and Overland Storage partner, said she was surprised to hear about the lawsuits.
"I don't know why Overland would be going after people for partitioning and export of tape," Wilson said. "Those technologies have been out for so long."
With the financial struggles the companies faced over the last couple of years, Wilson also questioned the timing of the lawsuits. "To take on major lawsuits against major manufacturers might be troublesome for Overland," she said.
Kelly said his company took its time trying to negotiate with its competitors over the patented technologies.
"The Overland Board of Directors is a very professional, mature Board," Kelly said. "Their last resort is to file a lawsuit against competitors. They came to the realization that discussions were not going anywhere. At some point, you have to do the right thing for the shareholders, for the employees and for the customers."
Kelly also said Overland is no longer the struggling company it once was. When Kelly started at Overland in 2007, the company had a share price of about 25 cents per share and a market capitalization of about $3 million. Per-share prices on Friday rose 8.7 percent to reach $1.88, giving the company a market capitalization of nearly $52 million.
"I think with new products coming, and with some new people on our team, we will grow," he said. "We'll be around. I don't think there's any question about that."
NEXT: Companies' Responses To Being Served
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