General Electric, Vestas Wind Settle Patent Dispute

Date : 06/25/2019 @ 3:53PM
Source : Dow Jones News
Stock : General Electric Company (GE)
Quote : 10.28  0.01 (0.10%) @ 4:23PM

General Electric, Vestas Wind Settle Patent Dispute

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.

 

Write to Adria Calatayud at adria.calatayudvaello@dowjones.com

 

(END) Dow Jones Newswires

June 25, 2019 10:38 ET (14:38 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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