The following appears on online.wsj.com
Long-running litigation over the terms of a patent licensing deal between Eastman KodakCo. KODK +0.18% and Japanese electronics maker Ricoh Co. 7752.TO +0.97% came to a close this week with the announcement of a $43 million settlement that puts Ricoh on the losing end of the dispute.
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Ricoh has already paid the money to Kodak, according to a filing the Rochester, N.Y., company made Wednesday with the U.S. Securities and Exchange Commission.
The settlement resolves several intersecting legal actions, including a federal lawsuit initiated by Kodak in 2012 alleging Ricoh owed royalties for Pentax digital cameras it sold using Kodak technology. It also absolves a patent infringement lawsuit Ricoh brought against Kodak as part of the iconic film company’s Chapter 11 case and a related bankruptcy claim.
A spokesman for Kodak said Thursday he had no comment on the settlement. A representative for Ricoh couldn’t be reached Thursday.
Last year, a jury in the Southern District of New York found Ricoh liable for $75.8 million in damages in the royalty case. The jury determined that under a patent licensing agreement the two companies struck, Ricoh had to pay Kodak royalties for any new lines of business it acquired that used Kodak’s technology. Ricoh bought Pentax Imaging Corp. in October 2011 but failed to pay the royalties.
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