Friday, June 20, 2014

Arista Networks, Cofounder Lawsuit

Arista Networks Faces Lawsuit From A Billionaire Cofounder Who Is 'Suing Himself': "....Cheriton controls nearly a quarter of Arista, which he cofounded with Bechtolsheim and current Chief Technology Officer Ken Duda to build network switches that cut down delays between servers. He’s also the main shareholder and founder of OptumSoft, a 10-year-old cloud software developer that has spent much of its existence licensing software to and collaborating with Arista. When Arista goes public... Cheriton’s stake could possibly translate to a billion-dollar position–one he is jeopardizing with the lawsuit filed by OptumSoft in April...." (read more at link above)

Arista Networks Stock Soars In IPO, Despite Bizarre Lawsuit By Billionaire Cofounder: "Investors may find Arista Networks’ ongoing legal battle with a cofounder bizarre, but that’s not keeping them from jumping all over the stock.... "

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