Phunware Inc. (NASDAQ:PHUN), a fully integrated enterprise cloud platform for mobile, has settled a legal dispute with its former counsel, Wilson Sonsini Goodrich & Rosati, PC (WSGR). The settlement, announced on Monday, resolves a case that had been ordered into arbitration concerning attorney's fees from a separate litigation matter against Uber Technologies, Inc. (NYSE:UBER)
The agreement, reached on March 5, 2024, requires Phunware to pay WSGR $2,193,852.02 by last Thursday, March 8, 2024. It also stipulates that both parties will file requests to dismiss the Uber Litigation with prejudice, which means the case cannot be refiled, and to close the Uber Arbitration permanently.
This resolution comes after nearly three years of legal proceedings that began when Phunware filed an action against WSGR on March 30, 2021. The case, initially filed in the Superior Court of the State of California for the County of Santa Clara, was moved to arbitration per court order.
As part of the settlement, both Phunware and WSGR have agreed to release each other from all claims related to the Uber Litigation and Uber Arbitration. This mutual release aims to conclude all legal disputes between the two parties concerning this matter.
The details of the Settlement Agreement have been made public through an attachment to the company's 8K filing, labeled Exhibit 10.1, which is incorporated by reference. This legal settlement marks the end of a lengthy dispute for Phunware and allows the company to focus on its core business operations without the overhang of ongoing litigation.
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