COLUMBIA, S.C., Aug. 14,
2024 /PRNewswire/ -- Sterlite Technologies Inc.
(STI), a leading U.S. optical and
digital solutions company with its North American headquarters and
manufacturing facilities in Lugoff, South
Carolina, today announced its intent to aggressively appeal
the recent verdict in a federal district court lawsuit filed
against it by Prysmian Cables & Systems. STI strongly believes
the verdict is not supported by the evidence and testimony
presented in the case and the case was filed for anti-competitive
purposes only. During the course of this three-year lawsuit, the
Court dismissed all but two of Prysmian's causes of action against
STI.
Talking about its global optical manufacturing prowess, STI
firmly rebutted Prysmian's claims
of receiving any undue advantage for its operations in the U.S. The
company has over 30 years of global optical expertise. With over
700 patents and ten world-class global facilities, the company's
manufacturing capability, credentials, and successes are in the
public domain for all to see.
STI reiterated its full commitment to the U.S. market and to its
employees, distributors, sales agents, and customers in the region,
several of whom testified for STI in the trial. The company
continues to focus on expanding its U.S. product offerings and
serving its customers for both federally funded and private fiber
broadband build-out projects in the U.S.
"We remain as excited and committed as ever to serve our
customers in America, and we do not intend for this verdict to
interrupt our plans to grow our U.S. presence. As a company, we
uphold the highest standards of ethics and integrity. We believe
the verdict is not supported by the testimony and evidence
presented at the trial and intend to appeal and vigorously pursue
all available post-trial remedies,"
said Ankit Agarwal, Managing
Director, STL.
About STI - Sterlite Technologies Inc.:
STI is a leading U.S. optical and digital solutions company
providing advanced offerings to build 5G, Rural, FTTx, Enterprise,
and Data Centre networks. Read more, Contact us, stl.tech
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For more information, contact:
Khushboo Chawla
Khushboo.chawla@stl.tech
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SOURCE Sterlite Technologies Inc.