Deep Nines & Altitude Capital Portfolio Company Announce Settlement Ending Legal Dispute Between the Companies
Deep Nines & Altitude Capital Portfolio Company Announce Settlement Ending Legal Dispute Between the Companies
New York, NY (PRWEB) July 22, 2011
Deep Nines, Inc. and Altitude Nines LLC, a portfolio company of Altitude Capital Partners, L.P., today announced a broad settlement ending all legal disputes between the two companies. The confidential settlement agreement resolves all claims asserted by Altitude Nines, in a lawsuit filed in Supreme Court, New York County (Altitude Nines LLC v. Deep Nines, Inc., Index no. 603268/2008). Deep Nines’ CEO, Sue Dark, stated that “the investment by Altitude Nines in our company was an important financial commitment, and we benefited from their expertise. Deep Nines is therefore pleased to have had the opportunity to resolve all claims through settlement.” Robert Kramer, Managing Partner of Altitude Capital Partners, stated that he is also “pleased that Deep Nines decided to resolve its dispute,” and that “Altitude Nines is satisfied with the terms of the settlement agreement between the parties and is glad both parties have respected the terms of the original investment agreement.”
About Altitude Capital Partners
Altitude Capital Partners, LP is a New York-based private equity fund with a distinguished track record for investing in intellectual property assets. Its primary focus is providing capital to all areas of Intellectual Property. Altitude invests in patents, trademarks, copyrights, royalty streams and trade secrets. These investments create working capital for growth, funding for future acquisitions, financing for IP monetization programs and for distributions to intellectual property owners, inventors, corporations and shareholders. Altitude’s most recent investment was in Digitude Innovations LLC, a Virginia-based consumer electronics licensing company focused on the acquisition and licensing of IP and technology in the consumer electronics, communications products and services and adjacent technology fields. It licenses its portfolio to commercial partners and engages in strategic partnerships with innovators large and small.
http://www.altitudecp.com
http://www.digitudeinnovations.com
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