BAMES - or to give it its full name, Bartolini After Market Electronic Services – entered into several agreements with Telit and its Italian subsidiaries (as previously disclosed) between 2007 and 2010.
In 2013, BAMES went into liquidation and some three years later Telit became aware of a criminal investigation against a number of parties with respect to BAMES's insolvency, including Telit's former chief executive officer.
Telit stressed that it was not and is not formally involved in these criminal legal proceedings; however, it has been informed that following a court hearing on July 9, BAMES’s administrators have begun proceedings to bring a civil claim against Telit.
Having taken legal advice, Telit considers that the claim is without merit and intends to vigorously defend its position.
At this early stage it is not possible to quantify any possible liability to Telit, the Internet of Things specialist said.