Benzinga | Dec 3, 2021 04:32PM EST

Semtech, Spark Connected Announce Settlement Of Litigation; Size Not Disclosed

Semtech Corporation (NASDAQ:SMTC) and Spark Connected, LLC announced today that they have resolved their dispute pending in the United States District Court for the Eastern District of Texas, Case No. 4:18-cv-00748.

Semtech's Executive Vice President, Chief Legal Officer and Chief ESG Officer, Charles Ammann stated: "We are pleased with the outcome of this settlement. As it did in this lawsuit, Semtech is committed to taking steps to vigorously protect its intellectual property rights and confidential information and to enforce its confidentiality agreements and other contractual commitments."

Spark's Chief Executive Officer, Ken Moore, stated: "After two years of litigation, we are pleased with the outcome of this settlement and the resolution of all disputes. Spark looks forward to continuing to develop and design novel and unique wireless power solutions for its customers." The parties' agreement successfully resolves the litigation between them, in which both parties denied any liability. Due to confidentiality, details of the settlement are not disclosed.