Cybex finalizes patent lawsuits |
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Thu, 18 Jan 2007 07:26
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MEDWAY, Mass. (AFX) - Fitness equipment maker Cybex International Inc. said late Wednesday it reached a settlement on a patent lawsuit and completed payment on another.The Free Motion patent litigation is being dismissed with prejudice, the company said, under a settlement in which Cybex receives certain Free Motion patents and is paying an upfront license fee. The fee was not disclosed.Also, Cybex completed payment on a judgment in another suit.Cybex expects a pre-tax charge of less than $200,000 to be recognized during the fourth quarter. The charge will be due to an increase in the company's litigation reserve.Shares of Cybex rose a penny to close at $6.15 on the Nasdaq.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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