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Greenstone Settles Lawsuit Over Trade Secret

NEW YORK, NY Greenstone Holdings, Inc (PINKSHEETS: GSHN) announced today that the Company and D&L LLC settled a lawsuit filed by D&L in the Circuit Court in Florida July 2004. The settlement resolves a long-standing dispute between D&L, Greenstone and the Inventor of a patent and two patent applications. No financial terms about the settlement were disclosed, but Mr. Miwa, CEO of Greenstone, reported that no significant cash payments were required of Greenstone other than future royalties and that the settlement will be greatly beneficial in attracting new customers that may have been concerned about ownership of the patented technology in the past. "We are excited," Mr. Miwa added, "to be joining forces with D&L on a project designed to develop new markets for D&L's patented technology and Greenstone's family of 'Green' products, including GreenShield?, Green-Dri?, Permeate?, MagneLine®, and Crystal-Guard?."

Full post as published by The Trade Secrets Vault on March 20, 2008 (boomark / email).