LAWSUITS NEWS & LEGAL INFORMATION
Patent Infringement
This is a settlement for the Trademark, Copyright, Patent lawsuit.
Boston, MA: (May-19-08) NMT Medical, Inc. brought charges against Cardia, Inc., a Burnsville, Minnesota-based company, alleging that Cardia's Intrasept device infringed on patents that were held by NMT Medical. The September 2004 patent infringement lawsuit claimed that the said patent was owned by the Children's Medical Center Corporation, and licensed exclusively by NMT. Court papers indicate that in November 2007, the U.S. District Court of Minnesota ruled that NMT Medical's allegations were valid an that Cardia had infringed on it.
Sources on both sides stated that the parties reached a settlement agreement, in which Cardia will pay $2.25 million and agreed immediately to cease further production, marketing and sales of its Intrasept device. Under the terms of the deal, the payments will be divided equally between NMT and CMCC, after NMT receives reimbursement of legal fees and expenses. Following the settlement, officials said that all parties have agreed to have the matter dismissed with prejudice. [CENTRE DAILY: NMT MEDICAL ANNOUNCES SETTLEMENT OF DAMAGES CLAIM IN PATENT INFRINGEMENT LAWSUIT WITH CARDIA]
Published on May-22-08
Sources on both sides stated that the parties reached a settlement agreement, in which Cardia will pay $2.25 million and agreed immediately to cease further production, marketing and sales of its Intrasept device. Under the terms of the deal, the payments will be divided equally between NMT and CMCC, after NMT receives reimbursement of legal fees and expenses. Following the settlement, officials said that all parties have agreed to have the matter dismissed with prejudice. [
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