Re: Halt
in response to
by
posted on
Dec 22, 2010 02:36PM
Intellectual Licenses for Electronics & Communications
Is this just the beginning??? There should be more coming!!!
WiLAN and LG Settle Wireless Patent Litigation (ccnm)
OTTAWA, ONTARIO--(Marketwire - Dec. 22, 2010) - THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN.
Wi-LAN Inc. ("WiLAN" or the "Company") (TSX:WIN), a leading technology innovation and licensing company, today announced that WiLAN has settled all pending wireless patent litigation with LG Electronics Mobilecomm U.S.A., Inc. and LG Electronics, Inc. (collectively, "LG"). As a result of the settlement, LG has obtained a multi-year license to certain patents of WiLAN. LG will make a series of fixed cash payments to WiLAN. Other terms of the agreement are confidential.
LG is the 12th cellular handset manufacturer to take a license from WiLAN.
As a result of this settlement, civil actions 2:08-cv-247, 2:10-cv-124 and 6:10-cv-521 filed by WiLAN against LG in the U.S. District Court for the Eastern District of Texas will be dismissed. Civil action 10-cv-432, involving WiLAN's V-Chip technology, filed by WiLAN against LG Electronics, Inc. and LG Electronics U.S.A., Inc. in the U.S. District Court for the Southern District of New York will continue.
Prior to disclosure of this settlement, the underwriters in WiLAN's recent bought deal of up to 5,625,000 common shares confirmed that they have fully completed their draw down under the over-allotment option and purchased an additional 116,300 common shares from the Company.