Tyco Resolves U.S. Patent Litigation

(RTTNews) - Tyco International Ltd. (TYC) on Thursday announced the resolution of pending litigation with Ningbo Signatronic Technologies, LLC, ALL-TAG Security, Best Security Industries, and Signatronic Corp. involving U.S. Patent Nos. 5,729,200 and 6,181,245.

In December 2013, the complaint was filed jointly by Tyco Fire & Security GmbH and its Sensormatic Electronics, LLC and Tyco Integrated Security, LLC businesses against Ningbo in both the International Trade Commission and the U.S. District Court for the Southern District of Florida to prohibit the importation into the United States of certain Ningbo acousto-magnetic electronic article surveillance systems labels.

Under a settlement agreement resolving both the ITC and District Court actions, the parties have agreed that Ningbo will withdraw from the United States certain EAS label models that use the disputed patents, and make an unspecified payment to Tyco.

Consent agreements memorializing the resolution will be filed in both the ITC and District Court actions, and both actions will be terminated.

All other terms of the settlement are confidential.