Aspen Technology Announces Entry of Judgment in Litigation with Former Employee
The judgment, which was entered with Dr. Kunt’s consent, declares the confidentiality and non-competition agreement between AspenTech and Dr. Kunt to be valid and enforceable in all respects. The agreement provided that its non-competition and non-solicitation provisions expired one year after Dr. Kunt’s departure from AspenTech. As part of the recently-entered judgment, Dr. Kunt is enjoined from violating those non-competition and non-solicitation provisions with AspenTech for an additional year from entry of the judgment, and he is permanently enjoined from violating other provisions of the agreement. The judgment also provides that Dr. Kunt will make a payment to AspenTech.
AspenTech commenced this litigation in
About AspenTech
AspenTech is a leading supplier of software that optimizes process manufacturing – for energy, chemicals, pharmaceuticals, engineering and construction, and other industries that manufacture and produce products from a chemical process. With integrated aspenONE solutions, process manufacturers can implement best practices for optimizing their engineering, manufacturing and supply chain operations. As a result, AspenTech customers are better able to increase capacity, improve margins, reduce costs and become more energy efficient. To see how the world’s leading process manufacturers rely on AspenTech to achieve their operational excellence goals, visit www.aspentech.com
Forward Looking Statements
This press release contains forward-looking statements for purposes of
the safe harbor provisions of the Private Securities Litigation Reform
Act of 1995. Actual results may vary significantly from AspenTech’s
expectations based on a number of risks and uncertainties, including,
without limitation: demand for, or usage of, our aspenONE software
declines for any reason; AspenTech’s failure to realize the anticipated
financial (including cash flow) and operational benefits of the aspenONE
subscription offering; unforeseen difficulties or uncertainties in the
application of accounting standards; weaknesses in AspenTech’s internal
controls; and other risk factors described from time to time in
AspenTech’s periodic reports filed with the
AspenTech cannot guarantee any future results, levels of activity, performance, or achievements. AspenTech expressly disclaims any current intention to update forward-looking statements after the date of this press release.
© 2012
Source:
Aspen Technology, Inc.
AspenTech
Erik Mason, +1
781-221-8386
erik.mason@aspentech.com
or
North
America
Lois Paul & Partners (for AspenTech)
Michael
Parker, +1 617-986-5714
aspentech@lpp.com