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Friday, 08/18/2017 10:03:04 AM

Friday, August 18, 2017 10:03:04 AM

Post# of 4024
Nice patent win here versus Samsung..

Entered a license agreement as well. Apple next...

65 million OS x $0.05 = $3.2 million MC. Nice upside.

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12240773

Samsung reaches settlement over noise-cancelling patents
08.18.17

A company that sued both Apple and Samsung for patent infringement has announced that it has reached a settlement with Samsung.

As reported by WIPR, audio company Andrea Electronics filed two suits at the US District Court for the Eastern District of New York in September, accusing the pair of infringing three of its patents.

The patents are US numbers 6,049,607; 6,363,345; and 6,377,637, which concern noise-cancelling technology.

Andrea said that Samsung’s Galaxy S7 product “and its use are covered by at least the asserted independent claims” of all three patents.

The International Trade Commission (ITC) announced its intention to look into the case, after it was asked to issue a limited exclusion order and cease and desist orders against Apple and Samsung.

The district court cases were stayed in November until the ITC’s determination becomes final.

However, on Tuesday, August 16, Andrea entered into a settlement agreement with Samsung, according to a filing with the Securities and Exchange Commission.

“Under the settlement agreement the company settled outstanding litigation between the company and Samsung,” the filing stated.

It concluded: “In addition, the company and Samsung entered into a patent licence agreement.

The filing did not say whether a similar deal has been struck with Apple, but WIPR has contacted the company for comment.