Callaway Golf, Acushnet Settle Patent Disputes

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4/13/2012 4:43 PM ET

Callaway Golf Co. (ELY: Quote) and Acushnet Co. said Friday that they have reached a settlement of all pending litigation and disputes, including disputes beyond the golf ball suits between the parties.

No money changed hands, but under the terms of the agreement, each company will have specified rights to make ball and club products under patents owned by the other.

Details of the settlement are confidential.

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