DURHAM, N.C. — Cree, Inc. announced that it has reached a confidential settlement in its patent infringement lawsuit with Harvatek Corp. Harvatek has agreed to a royalty bearing, worldwide license to the Cree patents-in-suit, thereby ending the lawsuit between the parties. Harvatek will pay Cree a license issue fee and ongoing royalties as part of the license agreement.
“Cree’s focus on innovation has led to sophisticated, energy efficient lighting products and a significant, broad-reaching, LED and LED lighting patent portfolio,” said Brad Kohn, vice president legal and general counsel for Cree. “Harvatek filed two meritless patent infringement countersuits in California. Both were quickly dismissed with prejudice and with no compensation paid by Cree. Cree’s original patent infringement lawsuit has now been settled, resulting in a license agreement that properly compensates Cree for the use of our IP.”
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