Legal, e-commerce, amazon
Basis Technology Wins Fight Against Amazon
Robert Buderi 1/11/08
Cambridge, MA-based Basis Technology, which develops software for multilingual information retrieval, reported today that the Appeals Court of Massachusetts has ruled in its favor in a long-running lawsuit against Amazon involving Basis’s compensation for providing consulting services relating to the formation of Amazon’s Japan operations. Although exact terms of the settlement were not disclosed, a Basis press release stated that Amazon, one of its early investors, will be forced to give up its board seat and rights as a preferred shareholder. Basis will also received an unspecified amount of financial compensation, the release said.
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