Monday, July 18, 2016

Itron Settles Patent Lawsuit

Liberty Lake-based smart utility meter maker Itron said late Friday afternoon, that it has agreed to settle a patent litigation suit brought against the company, and some of its customers, by TransData. Financial details of that settlement were not disclosed. The two said the parties have mutually agreed to dismiss all litigation claims related to TransData's patents; Itron said it had recorded a financial reserve in 2015 relating to estimated settlement costs in the case, and would adjust that amount in 2016 to reflect the agreement; amount of that reserve was not announced by the company.