LONDON (Within the Law) -Semiconductor firm IQE has announced it settled an ongoing IP dispute out of court, with an award entirely in its favour.
The firm had won a tribunal hearing in 2019 with the final award delivered in December 2020. Since then, it has been involved in litigation in the US federal court on the impact of the decision on a number of cases which had been brought against IQE and their employees.
On Thursday, the company said the parties had settled the claims out of court and the company had received its full and final settlement payment of $2.5m (£1.81m).
“I am very pleased that this matter is now fully resolved,” said chief executive officer Dr Drew Nelson.
“IQE has developed unparalleled materials expertise to meet global demand for advanced semiconductor wafer products, and this is underpinned by our comprehensive intellectual property portfolio which we are prepared to rigorously defend.”
(Written by Tom Cropper, edited by Klaudia Fior)