Global Crossing claims theft, sues Tyco unit

Article Abstract:

A trade-secrets theft and fraud case has been brought by Global Crossing Ltd. against Tyco International Ltd. The case, filed in New York City's U.S. District Court, concerns an agreement between the two companies to build a fiber-optic undersea network around South America. Global Crossing says Tyco used money and information surrounding the deal to invest in another joint venture. Tyco is also accused of filing false invoices with Global Crossing in relation to a second undersea cable project the two companies had already embarked on.

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Global Crossing claims theft, sues Tyco unit

Article Abstract:

Global Crossing Ltd. has filed a $1 billion suit against Tyco International Ltd. for allegedly using plans from the udnersea fiber-optic network construction contract in South America to form a competing venture, Tyco Ltd.

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Tyco to buy Lucent power unit for $2.5 billion

Article Abstract:

Lucent Technologies Inc. sold its power-systems unit to Tyco International Ltd. for cash. Lucent is focussing on communications equipment. Tyco International will fold the company into it's existing fiber optics networks and electronics businesses. The power-systems are used to modulate and backup electrical power supplies for telephone companies' central offices. The unit had FY 2000 revenue of $1.6 bil, against $1.2 bil for FY 1999.

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