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AVAYA INC FILES (8-K) Disclosing Change in Directors or Principal Officers, Other Events(Edgar Glimpses Via Acquire Media NewsEdge) Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Effective September 11, 2014, Mr. Brett Shockley ceased serving as Senior Vice President and Chief Technology Officer of Avaya Inc. (the "Company") in connection with his decision to pursue other opportunities outside of the Company. Item 8.01 Other Events. The Company previously disclosed the jury verdict in its lawsuit in the U.S. District Court, District of New Jersey, involving Telecom Labs, Inc., TeamTLI.com Corp. and Continuant Inc. (collectively, "TLI/Continuant"). On September 11, 2014, a federal judge entered a judgment against the Company for approximately $63 million, after trebling of the jury award pursuant to applicable law. The Company continues to believe that TLI/Continuant's claims are without merit and unsupported by the facts and law, and the Company intends to defend this matter, including by filing an appeal to the United States Court of Appeals for the Third Circuit. In order to stay enforcement of the judgment, the Company is required to post a bond in the amount of the judgment within 30 business days of the date of the judgment. The Company expects to secure posting of the bond through any or a combination of one or more letters of credit under its existing credit facilities and cash on hand. Forward-Looking Statements This current report on Form 8-K contains "forward-looking statements." All statements other than statements of historical fact are "forward-looking" statements for purposes of the U.S. federal and state securities laws. These statements may be identified by the use of forward looking terminology such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "potential," "predict," "should" or "will" or the negative thereof or other variations thereon or comparable terminology. The Company has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While the Company believes these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond its control. These factors, including those discussed in the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2013 may cause its actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. For a further list and description of such risks and uncertainties, please refer to the Company's filings with the SEC that are available at www.sec.gov. The Company cautions you that the list of important factors included in the Company's SEC filings may not contain all of the material factors that are important to you. In addition, in light of these risks and uncertainties, the matters referred to in the forward-looking statements contained in this report may not in fact occur. The Company undertakes no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law. -------------------------------------------------------------------------------- |