litigation
confidence high
sentiment neutral
materiality 0.35
VPR Brands settles patent infringement suit with PHD Marketing for $85,000
VPR Brands, LP.
- PHD will pay VPR $85,000 by Dec 31, 2021 to settle patent infringement claims.
- VPR grants PHD a non-exclusive, non-assignable license to U.S. Patent No. 8,205,622.
- Lawsuit to be dismissed with prejudice; each party bears its own attorneys' fees and costs.
- No admission of liability by either party in the settlement agreement.