$70M Settles Samsung, Spansion Memory Patent Spat

Law360, New York (April 7, 2009, 12:00 AM EDT) -- Samsung Electronics Co. Ltd. will pay newly bankrupt rival Spansion LLC $70 million to settle flash memory technology patent infringement complaints in federal court and before the U.S. International Trade Commission.

In addition to the $70 million cash payment, the two companies also reached a cross-licensing agreement granting each rights to some of the other's patents, Spansion announced Tuesday. The terms of that agreement are confidential.

Before it becomes final, the settlement must be approved by the U.S. Bankruptcy Court for the District of Delaware, where...
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