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Saturday, February 25, 2017 11:40:11 PM
ITEM 3. LEGAL PROCEEDINGS
On March 28, 2013 we initiated patent litigation against an outside party. As of March 31, 2015, the case was in full discovery, the pre-trial hearing was held, and the deliberations were continuing. Mediation took place in May 2015 to discuss a potential settlement, and on January 15, 2016, the parties reached a settlement in the matter. As part of the settlement, we will receive a payment of $4.9 million, net of legal fees, which will be recorded as other income in the first quarter of 2016.
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