litigation
confidence high
sentiment neutral
materiality 0.40
VPR Brands settles patent suit with XL Vape, VGOD, Saltnic for $155k; grants license
VPR Brands, LP.
- XL Vape, VGOD, and Saltnic collectively pay VPR $155,000 to settle patent infringement action.
- VPR grants each XL Party a fully paid-up, royalty-free, non-exclusive license to U.S. Patent No. 8,205,622.
- Parties exchange mutual general releases; each bears its own legal costs.
- Settlement resolves litigation in the Central District of California; effective March 18, 2022.