Penny Stock News: GigOptix Files Lawsuit Against Optomai, Inc.; Former GigOptix Employees

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GigOptix, Inc. (OTCBB:GGOX), a leading supplier of high performance electronic and electro-optic components that enable next generation 40G and 100G optical networks, announces that it has filed a lawsuit against Optomai, Inc. and five former GigOptix employees in Santa Clara County Superior Court. GigOptix alleges in the lawsuit that the former employees violated confidentiality agreements with GigOptix by retaining and misusing confidential and proprietary GigOptix information to launch a competing company.

According to allegations in the lawsuit, the former employees created Optomai, Inc. in 2009 and have begun selling products that directly compete with GigOptix’s products. GigOptix further alleges that Optomai used GigOptix technology and intellectual property to develop its products in violation of California law and that it is now selling its products as the “Optomai Optoelectronics” product line of MA-Com. GigOptix is seeking damages and injunctive relief.

GigOptix’s Chairman of the Board and Chief Executive Officer, Dr. Avi Katz, stated, “GigOptix is committed to zealously protecting its intellectual property. We will take every step necessary to protect the technology we have developed and to ensure that our rights, the value we have created for our shareholders and business success are not compromised.”

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