Ericsson sued for $330 million in trade secrets case

Ericsson, the world's largest telecommunications network equipment maker, has been sued for more than $330 million by Airvana Network Solutions Inc, which accused it of stealing trade secrets and trying to drive it out of business.

Airvana, a maker of broadband network technology, contended that Ericsson violated key contract terms by developing in-house a "knock-off" product based on Airvana technology, which could then be sold to wireless carriers Verizon and Sprint.

"If Ericsson is able, even temporarily, to displace Airvana with a wrongfully developed 'in-house' product, Airvana will face an immediate and precipitous decline in its revenues and may be rendered unable to meet its obligations," said the complaint filed Wednesday in a New York state court in Manhattan.

Ericsson, a Swedish company, was not immediately available for comment. Airvana is based in Chelmsford, Massachusetts.