subslover
2 years ago
ClearOne Announces a Special One-time Cash Dividend
SALT LAKE CITY--(BUSINESS WIRE)-- ClearOne (NASDAQ: CLRO) today announced that its Board of Directors has declared a special one-time cash dividend of $1.00 per share of ClearOne common stock, payable on May 31, 2023 to shareholders of record on May 22, 2023.
"The recent successful legal settlements have generated surplus cash for the Company. We are pleased to share this surplus with our shareholders, who continue to support the Companyβs strategy and vision for future growth,β said Eric L. Robinson, Chairman of the Board of Directors of ClearOne. βWe believe the company is now solidly positioned to pursue its long-term plans and return to rapid revenue growth and profitability.β
Even though this dividend announcement is a special one-time event, the declaration of dividends in the future is subject to the discretion of the ClearOne Board of Directors, which will evaluate the possibility of future dividend distributions from time-to-time based on factors that the Board of Directors deem relevant. However, no additional dividends have been authorized nor are contemplated at this time.
subslover
2 years ago
Joint Press Release of Settlement Between ClearOne and Shure
December 09 2022 - 08:00AM
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ClearOne, Inc. (NASD: CLRO) (βClearOneβ) and Shure Incorporated (βShureβ) today jointly announce that they have reached a global settlement of all pending legal disputes. In order to avoid the expense, burden, and uncertainty associated with litigation and to resolve their pending cases against one another, the companies entered into a confidential settlement agreement.
The companies have agreed to file dismissals with prejudice in all pending cases to fully and finally resolve their disputes. Both parties have agreed to release the other party from all claims and to cross-license all patent rights involved with the cases, such that each party will be free to sell their products without restrictions going forward.
The companies have also agreed to cross-license certain additional patent rights and have made covenants not to sue. Certain terms of the agreement between the parties are conditional on court action and/or approval, which the parties will promptly seek. Neither company has admitted any wrongdoing or liability as a condition of settlement.