Gen Electric (NYSE:GE)
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By Adria Calatayud
General Electric Co. (GE) and Vestas Wind Systems AS (VWS.KO) have reached a settlement to a dispute relating to multiple patent-infringement claims in the U.S., the Danish wind-turbine maker said Tuesday.
As part of the agreement, GE will drop a lawsuit against Vestas launched in July 2017 and the Danish company will abandon its two counterclaims against GE, Vestas said. The settlement also includes a confidential payment from Vestas to GE as well as a cross-license to the patents-in-suit and their family members, Vestas said.
Any past infringements of the patents-in-suit are fully released, the Danish company said.
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(END) Dow Jones Newswires
June 25, 2019 10:38 ET (14:38 GMT)
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