Sterlite Technologies Inc. to appeal verdict in South Carolina lawsuit; reinforces its commitment to the U.S. market

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Aug 14, 2024, 07:02 ET

COLUMBIA, S.C., Aug. 14, 2024 /PRNewswire/ -- Sterlite Technologies Inc. (STI), a leading U.S. optical and digital solutions company with its North American headquarters and manufacturing facilities in Lugoff, South Carolina, today announced its intent to aggressively appeal the recent verdict in a federal district court lawsuit filed against it by Prysmian Cables & Systems. STI strongly believes the verdict is not supported by the evidence and testimony presented in the case and the case was filed for anti-competitive purposes only. During the course of this three-year lawsuit, the Court dismissed all but two of Prysmian's causes of action against STI.

Talking about its global optical manufacturing prowess, STI firmly rebutted Prysmian's claims of receiving any undue advantage for its operations in the U.S. The company has over 30 years of global optical expertise. With over 700 patents and ten world-class global facilities, the company's manufacturing capability, credentials, and successes are in the public domain for all to see.

STI reiterated its full commitment to the U.S. market and to its employees, distributors, sales agents, and customers in the region, several of whom testified for STI in the trial. The company continues to focus on expanding its U.S. product offerings and serving its customers for both federally funded and private fiber broadband build-out projects in the U.S.

"We remain as excited and committed as ever to serve our customers in America, and we do not intend for this verdict to interrupt our plans to grow our U.S. presence. As a company, we uphold the highest standards of ethics and integrity. We believe the verdict is not supported by the testimony and evidence presented at the trial and intend to appeal and vigorously pursue all available post-trial remedies," said Ankit Agarwal, Managing Director, STL.

About STI - Sterlite Technologies Inc.:

STI is a leading U.S. optical and digital solutions company providing advanced offerings to build 5G, Rural, FTTx, Enterprise, and Data Centre networks. Read more, Contact us, stl.tech | Twitter | LinkedIn | YouTube

For more information, contact:

Khushboo Chawla
[email protected]

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SOURCE Sterlite Technologies Inc.