August 6, 2018 / 3:17 PM / 2 months ago

REFILE-BRIEF-Arista Networks To Pay Cisco $400 Mln To Resolve Pending Litigation

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Aug 6 (Reuters) - Arista Networks Inc:

* ARISTA NETWORKS - ON AUGUST 6, 2018, ARISTA NETWORKS ENTERED INTO A BINDING TERM SHEET WITH CISCO SYSTEMS, INC

* ARISTA NETWORKS - TERM SHEET WILL RESULT IN DISMISSAL OF ALL PENDING DISTRICT COURT AND ITC LITIGATION BETWEEN CO, CISCO

* ARISTA NETWORKS SAYS UNDER BINDING TERM SHEET, COMPANY WILL PAY CISCO $400 MILLION BY AUGUST 20, 2018 - SEC FILING

* ARISTA NETWORKS - CISCO TO GRANT CO RELEASE FOR ALL CLAIMS OF INFRINGEMENT IN PATENT INFRINGEMENT ALLEGATIONS IN PENDING LITIGATION

* ARISTA NETWORKS INC - WILL GRANT CISCO A RELEASE FROM ALL PAST ANTITRUST CLAIMS

* ARISTA NETWORKS INC - AGREED TO MAKE CERTAIN MODIFICATIONS TO ITS COMMAND LINE INTERFACE

* ARISTA NETWORKS - WILL RECORD A LEGAL SETTLEMENT CHARGE OF $405 MILLION TO OPERATING EXPENSES RESULTING IN REVISED GAAP NET LOSS FOR Q2 OF $155.3 MILLION

* ARISTA NETWORKS - CO, CISCO AGREED TO 3-YEAR DISPUTE RESOLUTION PROCESS FOR ALLEGATIONS AGAINST NEW AND/OR MODIFIED FEATURES IN OTHER PARTY'S PRODUCTS

* ARISTA NETWORKS - ADJUSTMENTS TO Q2 2018 GAAP FINANCIAL RESULTS DO NOT IMPACT NON-GAAP RESULTS

* ARISTA NETWORKS - CO, CISCO AGREED TO 5-YEAR STAND-DOWN PERIOD FOR ANY UTILITY PATENT INFRINGEMENT CLAIMS EITHER MAY HAVE AGAINST FEATURES IN OTHER PARTIES' PRODUCTS Source: bit.ly/2M10q9z Further company coverage:

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