Storage Technology Corp. v. Cisco Systems, Inc.

395 F.3d 921 (2005)

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Storage Technology Corp. v. Cisco Systems, Inc.

United States Court of Appeals for the Eighth Circuit
395 F.3d 921 (2005)

KL

Facts

Storage Technology Corporation (STC) (plaintiff) was a technology company working on data-storage networking products. Beginning in 1999, NuSpeed Internal Systems (NuSpeed) began hiring STC employees to work on an internet-based data-storage network. In total, NuSpeed hired over 20 people who were employed or had been employed by STC. In late 2000, Cisco Systems, Inc. (Cisco) (defendant) acquired NuSpeed in a stock-for-stock transaction in which NuSpeed’s shareholders received $450 million in Cisco stock. At that time, NuSpeed had over 70 employees, most of whom had never worked for STC. NuSpeed was also working on different technologies than anything STC’s former employees worked on at STC or that STC was currently working on at the time of the acquisition. Ultimately, Cisco did not make a profit on NuSpeed’s work and as of 2003, Cisco’s operating losses for its NuSpeed unit totaled $50 million. STC sued Cisco, asserting tortious interference with STC’s contractual relationships with its employees due to NuSpeed hiring many former STC staff, among other claims. The district court granted Cisco’s motion for summary judgment, holding that STC failed to present evidence of recoverable damages for its tortious-interference claims.

Rule of Law

Issue

Holding and Reasoning (Gibson, J.)

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