FOR IMMEDIATE RELEASE – June 2, 2016
Aquatic Sensor Network Technology (AquaSeNT) is pleased to announce that it has reached a settlement with the National Science Foundation (NSF) and the U.S. Attorney’s Office for the District of Connecticut. The settlement concerned disputed claims related to improper documentation of time and related technical requirements for federally funded research grants. AquaSeNT vigorously denies that the government had any viable claims against the company, and denies that it engaged in any wrongful conduct. AquaSeNT agreed to settle the matter outside of court because of the enormous cost, expense, and distraction of challenging the federal government in protracted litigation. The settlement is expressly not an admission of any wrongdoing or liability.
With the settlement, AquaSeNT is pleased to return its full focus to its core mission: to create breakthrough advancements in underwater wireless communication technology and to deliver practical solutions to the challenges of subsea operations, asset integrity monitoring, and data harvesting.
Regarding the settlement, June-Hong (June) Cui, President of AquaSeNT, said: “AquaSeNT is on the forefront of new and exciting advances in underwater wireless communication. With this settlement in place, the company is moving forward to write the next new chapter. We believe our research and development in underwater communication technology is unmatched in the industry. We are working on new innovations and looking forward working with various strategic partners for the next phase of cutting-edge advancements.”