Kinesoft Files Suit

Austin, Texas, based Kinesoft has filed suit in U.S. District Court in Illinois against SoftBank Holdings and SoftBank Corporation alleging a breach of obligations under a previously agreed settlement. "Several attempts to negotiate a reasonable settle had failed, and we were forced to turn to the courts to seek appropriate remedy," said Kinesoft chairman and CEO Peter Sills. Sills also stressed that SoftBank is a minority investor in Kinesoft and the court action will not affect the company's day to day operations.