Computer disk-drive maker Western Digital Corp. said on Wednesday that it will make a one-time payment of $24 million to settle a patent infringement lawsuit by Papst Licensing GmbH & Co. KG. The agreement, which was reached July 4, will result in a net charge to operations of $19 million, which will be reflected in the quarter ended July 1, Western Digital said in a U.S. regulatory filing. Papst Licensing, a German firm, has agreed to drop its lawsuit, release all past, present and future infringement claims of those Papst patents and grant a fully-paid license to certain patents, Western Digital said in a filing with the U.S. Securities and Exchange Commission.

Posted by GEN-ERIC at 12:07:32 am into the following categories: In The News

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