Semtech Corporation (Nasdaq: SMTC) and Spark Connected, LLC announced today that they have resolved their dispute pending in the United States District Court for the Eastern District of Texas, Case No. 4:18-cv-00748.
Semtech's Executive Vice President, Chief Legal Officer and Chief ESG Officer, Charles Ammann stated: "We are pleased with the outcome of this settlement. As it did in this lawsuit, Semtech is committed to taking steps to vigorously protect its intellectual property rights and confidential information and to enforce its confidentiality agreements and other contractual commitments."
Spark's Chief Executive Officer, Ken Moore, stated: "After two years of litigation, we are pleased with the outcome of this settlement and the resolution of all disputes. Spark looks forward to continuing to develop and design novel and unique wireless power solutions for its customers." The parties' agreement successfully resolves the litigation between them, in which both parties denied any liability. Due to confidentiality, details of the settlement are not disclosed.
Semtech Corporation is a leading global supplier of high performance analog and mixed-signal semiconductors and advanced algorithms for infrastructure, high-end consumer and industrial equipment. Products are designed to benefit the engineering community as well as the global community. The Company is dedicated to reducing the impact it, and its products, have on the environment. Internal green programs seek to reduce waste through material and manufacturing control, use of green technology and designing for resource reduction. Publicly traded since 1967, Semtech is listed on the NASDAQ Global Select Market under the symbol SMTC. For more information, visit www.semtech.com.
Spark Connected | powering the world, wirelessly. Spark Connected is a global leader specializing in multiple advanced and safe wireless power technologies that benefits a wide variety of applications in the Automotive, Industrial, Infrastructure, Medical, Telecom and Security, Robotics, Factory Automation, IOT, Smart Home, and Consumer markets. Spark is transforming wireless power delivery and intelligent battery charging with innovative platforms, disruptive technology and breakthrough products enabling an enhanced user experience for all. The company specializes in Product Development and Engineering Solutions with a team of passionate innovators with decades of combined deep domain expertise. Spark Connected is a Full Member of the Wireless Power Consortium. For more information, visit www.sparkconnected.com
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