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Digi International settles patent infringement lawsuit with USEI
[May 02, 2013]

Digi International settles patent infringement lawsuit with USEI

May 02, 2013 (Datamonitor via COMTEX) -- Digi International Inc., a provider of products and solutions to connect local or remote electronic devices over the network or via the web, has announced the settlement of a patent infringement lawsuit with US Ethernet Innovations, LLC, or USEI, for $1.52 million.

On May 29, 2012, USEI filed a lawsuit against Digi, which was amended on September 21, 2012, including allegations against Digi pertaining to the infringement of four patents related to ethernet technology. The settlement fully resolves the claims by USEI for both Digi and end users of its products and requires Digi to make a one-time payment of $1.52 million to USEI with no further payment obligations going forward.

Digi has recorded the agreed settlement in its second fiscal quarter 2013 results, which Digi expects to release on April 25, 2013. Net of taxes, the settlement is $1.0 million and is expected to reduce reported earnings per diluted share for the second fiscal quarter of 2013 by approximately $0.04. Republication or redistribution, including by framing or similar means, is expressly prohibited without prior written consent. Datamonitor shall not be liable for errors or delays in the content, or for any actions taken in reliance thereon

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