Posted in | News | Laser | Optics and Photonics

Newport Corporation and IPG Photonics Settle Litigation

Jul 17 2007

IPG Photonics Corporation and Newport Corporation have announced that the two companies have settled patent infringement claims made against IPG Photonics by Spectra-Physics, Inc., a subsidiary of Newport, as well as IPG Photonics' counterclaims against Spectra-Physics, Inc., by mutual agreement.

Terms of the settlement agreement were not disclosed. IPG Photonics does not expect the agreement to have a material impact on its financial statements or condition.

The settlement related to a complaint filed with the United States District Court for the Northern District of California in June 2006 by Spectra-Physics alleging that certain of IPG Photonics' optical fiber laser and amplifier products infringed a U.S. patent owned by Spectra-Physics. Pursuant to the parties' settlement agreement, this case has been dismissed with prejudice.

http://investor.newport.com/

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