Stratesec was a security company founded in 1987 and based out of Woodcliff Lake, New Jersey

Woodcliff Lake, New Jersey

Woodcliff Lake is a borough in Bergen County, New Jersey, United States. As of the 2010 Census, the borough population was 5,730.Woodcliff Lake is also the name of the reservoir that lies primarily within the borough, with a small part of it located in neighboring Hillsdale.The borough is an...

. The company went public on October 2, 1997 on the American Stock Exchange

American Stock Exchange

NYSE Amex Equities, formerly known as the American Stock Exchange is an American stock exchange situated in New York. AMEX was a mutual organization, owned by its members. Until 1953, it was known as the New York Curb Exchange. On January 17, 2008, NYSE Euronext announced it would acquire the...

  and was delisted in 2002.

Company history

At IPO

Initial public offering

An initial public offering or stock market launch, is the first sale of stock by a private company to the public. It can be used by either small or large companies to raise expansion capital and become publicly traded enterprises...

 in 1997, Securacom listed among its clients Washington Dulles International Airport

Washington Dulles International Airport

Washington Dulles International Airport is a public airport in Dulles, Virginia, 26 miles west of downtown Washington, D.C. The airport serves the Baltimore-Washington-Northern Virginia metropolitan area centered on the District of Columbia. It is named after John Foster Dulles, Secretary of...

, Hewlett-Packard

Hewlett-Packard

Hewlett-Packard Company or HP is an American multinational information technology corporation headquartered in Palo Alto, California, USA that provides products, technologies, softwares, solutions and services to consumers, small- and medium-sized businesses and large enterprises, including...

, EDS

EDS

- Education :* Educational specialist , a terminal academic degree in the U.S.* Episcopal Divinity School, an Episcopal Seminary in Cambridge, Massachusetts* Evansville Day School, an independent college-prep school in Evansville, Indiana- Politics :...

, United Airlines

United Airlines

United Air Lines, Inc., is the world's largest airline with 86,852 employees United Air Lines, Inc., is the world's largest airline with 86,852 employees United Air Lines, Inc., is the world's largest airline with 86,852 employees (which includes the entire holding company United Continental...

, Gillette, MCI

MCI Communications

MCI Communications Corp. was an American telecommunications company that was instrumental in legal and regulatory changes that led to the breakup of the AT&T monopoly of American telephony and ushered in the competitive long-distance telephone industry. It was headquartered in Washington,...

, the World Trade Center

World Trade Center

The original World Trade Center was a complex with seven buildings featuring landmark twin towers in Lower Manhattan, New York City, United States. The complex opened on April 4, 1973, and was destroyed in 2001 during the September 11 attacks. The site is currently being rebuilt with five new...

, and other facilities including hospitals, prisons, corporations, utilities, universities.

Securacom received a contract to provide electronic security services for the World Trade Center

World Trade Center

The original World Trade Center was a complex with seven buildings featuring landmark twin towers in Lower Manhattan, New York City, United States. The complex opened on April 4, 1973, and was destroyed in 2001 during the September 11 attacks. The site is currently being rebuilt with five new...

 in 1996. The contract ended on the 11th of September 2001.

Trademark Lawsuit

After the company went public in 1997, Securacom was ordered through a court of law, to change its name to Stratesec, due to a 1995 name infringement suit from SecuraComm, a smaller Pittsburgh-based consultancy. The court found a deliberate effort by Securacom to financially "bury" the plaintiff, Ron Libengood, and "take everything he had" by filing a barrage of frivolous arguments against Libengood and his attorneys in multiple jurisdictions. Appellate courts opined that Securacom "tried to prevail by crushing Libengood and his corporation" in a "sweeping attempt to beat a financially weaker opponent through the use of vexatious litigation."

The company, then known as Stratesec, was delisted from the American Stock Exchange in July 2002 due to inability to make financing payments to ES Bankest, its primary shareholder, and other financial problems.

See also

• Kroll Inc.
  Kroll Inc.
  Kroll is a risk consultancy firm based in Midtown Manhattan, New York City. and established in 1972.- History:Kroll was founded in 1972 by Jules B. Kroll as a consultant to corporate purchasing departments...
  
  - Securacom sold security-related equipment to the New York Port Authority for the security of the World Trade Center. Securacom's contract for the sale of equipment was terminated in 1998.