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Patent Law

: Philip Brooks’ Patent Infringement Updates

Spansion and Samsung Settle Patent Litigation Lawsuit

By Philip Brooks

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The following is excerpted from an April 7, 2009 Spansion press release at PR Newswire:

Spansion Inc. (Nasdaq: SPSN), the world's largest pure-play provider of Flash memory solutions, today announced that it has settled its patent litigation lawsuits with Samsung Electronics. As part of the settlement, Samsung will pay Spansion $70 million and Spansion and Samsung Electronics Company have exchanged rights in their patent portfolios in the form of licenses and covenants subject to a confidential settlement agreement. The settlement ends the patent disputes between the two companies and is a significant step forward in Spansion's reorganization process, demonstrating the company's intense focus on improving its financial position in the current economic climate.

Due to Spansion's recent Chapter 11 filing, the agreement is subject to approval by the bankruptcy court. The agreement is contingent upon the dismissal of the claims and the satisfaction of certain conditions including bankruptcy court approval.

Read the full press release here.

Full post as published by Philip Brooks’ Patent Infringement Updates on April 08, 2009 (boomark / email).