Eye Surgery Rivals Settle Patent Claims For $6.5M

Law360, New York (April 10, 2007, 12:00 AM EDT) -- Laser eye surgery rivals Synergetics USA Inc. and Iridex Corp. laid down their swords Tuesday, with Synergetics paying $6.5 million to settle the companies’ dueling patent infringement suits.

Synergetics will pay $2.5 million to Iridex on April 16, and pay $800,000 annually over the next five years as part of the settlement, which also includes a royalty-free, worldwide cross licensing agreement between the companies.

The companies also entered into a manufacture and supply agreement under which Synergetics will produce various laser disposable products such as probes...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.