Interdigital Comm (halted, will resume at 8:30) and Huawei reached a settlement agreement to enter into binding arbitration to resolve their global patent licensing dispute
8:07 AM ET 12/24/13 | Briefing.com
On Dec 23, 2013, InterDigital and Huawei reached a settlement agreement to enter into binding arbitration to resolve their global patent licensing dispute. The agreement is based on an expedited process leading to a license on terms set by the arbitration panel, with the arbitration process expected to be complete before the end of 2014.
Pursuant to the settlement agreement, InterDigital and Huawei will move to dismiss all litigation matters pending between the parties, including the two U.S. International Trade Commission investigations and related U.S. district court proceedings as they relate to Huawei, and including withdrawal by Huawei of its various antitrust complaints, but excluding the action filed by Huawei in China to set a FRAND rate for the licensing of InterDigital's Chinese standards-essential patents. The terms of the settlement agreement permit InterDigital to further appeal, through a petition for retrial in the Chinese Supreme People's Court, this Chinese court decision relating to InterDigital's Chinese standards-essential patents.
IDCC will resume trading at 8:30.
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