On February 5, 2013 Augme Technologies, Inc. ("Augme") entered into a settlement with AOL, Inc. (together with its affiliates, including, but not limited to AOL Advertising Inc. and Tacoda LLC, "AOL"), pursuant to which Augme and AOL have settled the two pending lawsuits as between each other, namely (i) Civil Action No. 12-cv-5439, originally filed on September 10, 2008, as Civil Action No. 08-cv-5914 in the Central District of California and previously part of Civil Action No. 09-cv-4299 in the Southern District of New York, and (ii) Civil Action No. 11-cv-5193, originally filed on April 29, 2011, as originally filed as Civil Action No. 11-cv-282 in the Eastern District of Virginia and now pending as Civil Action No. 11-cv-5193 in the Southern District of New York. (collectively, the “Lawsuits”).
Pursuant to the settlement, (a) Augme has granted AOL and its customers a paid-up license in any patent owned or controlled by Augme for the life of those patents in return for a lump sum payment of $650,000, (b) Augme has covenanted not to sue AOL on those patents that Augme owns or controls, (c) Augme and AOL have dismissed the Lawsuits as to each other with prejudice with each side to bear its own costs, and (d) Augme and AOL have released each other as to the subject matter of the Lawsuits with AOL making no admission of liability.
