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Matters

Stream Proceeds with Nationwide Mobile Launch in Face of Lawsuit

January 26, 2015

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Copyright 2010-15 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com

Stream Energy said that it proceeded with the previously reported nationwide launch of its mobile services, "in the face of grossly misrepresented and baseless legal allegations by Solavei made public late Friday afternoon."

Solavei had said on January 23 that a Dallas District Court judge issued an order prohibiting Stream from using proprietary technology and information allegedly obtained from Solavei.

According to Solavei, "In May 2013, the companies entered merger discussions under a mutually agreed-upon confidentiality agreement. A letter of intent to combine the companies was signed in November 2013, pending due diligence by both sides."

Solavei alleged that it is "self-evident" that Stream is using confidential information obtained from this process in its mobile launch.

However, Stream said that it has not used any such proprietary information.

"Of course Stream is not permitted to use any proprietary information learned from Solavei during the course of sensitive merger discussions – and we indeed have not," said Mark "Bouncer" Schiro, Stream president and CEO.

"[T]he District Court judge made no ruling regarding our mobile launch. Rather, the court affirmed an existing bilateral confidentiality agreement that we’ve been upholding, and continuing to uphold, since 2013," Schiro said.

Schiro continued, "Contrary to Solavei's claims, [the] ruling of the 192nd District Court did not in any meaningful way impact our plan to launch our mobile business. Unlike Solavei we will continue to meet our contractual commitments as well as emerge from this manufactured dispute with our good name intact."

Solavei alleged that, "Stream executives have publicly used Solavei's trademark slogan 'Powered by Relationships' to describe their company, in spite of the fact that the slogan is a registered US trademark owned by Solavei."

Schiro fired back: "Why would we copy the plans and tactics of a firm that drove itself into federal bankruptcy proceedings?"

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