Aetrium Reveals Dismissal Of Litigation

(RTTNews) - Aetrium Inc. (ATRM) Monday announced dismissal of litigation brought against it by UTHE Technology Corp.

The litigation involved the 1992 sale by UTHE of one of Aetrium's independent international distributors located in Singapore to a group of the distributor's employees. The sale had been the subject of arbitration in Singapore not involving Aetrium for most of the intervening 20 years.

The litigation against Aetrium was filed in the U.S. District Court for the Northern District of California in 1993, stayed pending the Singapore arbitration, and revived by plaintiff in June 2012 after the arbitration completed.

United States District Judge William Alsup dismissed some of plaintiff's claims in September 2012. Aetrium established through subsequent discovery that the remaining claims were also meritless, and Judge Alsup so concluded by his order entered recently in September. The final judgment dismissing the litigation was filed on September 13.

Aetrium, based in North St. Paul, Minnesota, supplies proprietary technologies and equipment that are used by the semiconductor industry to test ICs.