Hitachi Settles ITC Suit Over Rare-Earth Magnet Patents

Law360, New York (May 13, 2013, 1:23 PM EDT) -- Maxon Precision Motors Inc. has agreed to settle claims brought by Hitachi Metals Ltd. alleging the drive technology company imported products containing rare-earth magnets covered by Hitachi’s patents, according to documents filed Friday with the U.S. International Trade Commission.

Maxon and Hitachi filed a joint motion seeking to terminate the portion of the ITC's investigation alleging Maxon unlawfully imported products containing sintered rare-earth magnets in light of a settlement the parties reached May 8.

Terms of the deal, most of which were confidential, apply to Maxon-branded...
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