SynQor and Murata Settle Claims Relating to IBA Patent Litigation
Boxborough, MA - SynQor announced today that it has entered into a definitive Settlement
Agreement with Murata Electronics North America, Murata Manufacturing and Murata
Power Solutions (collectively, "Murata") to resolve certain outstanding issues from
SynQor's original IBA patent litigation against Murata (SynQor, Inc. v. Artesyn
Technologies, Inc., et al., Civil Action No. 2:07-CV-497, U.S. District Court Eastern
District of Texas (the "'497 Case")).
Pursuant to the Settlement Agreement, Murata has agreed to increase its bonded damages
in the '497 Case by an additional $4.1M raising its total bonded damages to $25.2M.
Murata has also agreed to make a confidential cash payment to SynQor. The '497 Case
is currently on appeal to the Federal Circuit Court of Appeals in Washington D.C.
where it is awaiting an oral argument date.
Inquiries concerning the foregoing should be directed to Arthur R. Hofmann, Jr.,
SynQor's Executive Vice President and General Counsel.
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