NVE, Everspin Agree To Settle Lawsuits

(RTTNews) - NVE Corp. (NVEC) and Everspin Technologies, Inc. said Monday that they have agreed to dismiss, with prejudice, an NVE lawsuit against Everspin filed January 3, 2012 and an Everspin lawsuit against NVE filed February 24, 2012.

Both lawsuits alleged patent infringement and were filed in the U.S. District Court for the Minnesota District.

The parties have further agreed not to assert the patents in either suit against the other party in the future, and Everspin agreed not to participate in current inter partes reexamination proceedings pending against NVE's patents in suit.

The agreement is limited to the patents asserted in the 2012 lawsuits.