Thursday, Applied Materials, Inc. (AMAT) and China's Advanced Micro-Fabrication Equipment, Inc. (AMEC) revealed a settlement to the patent litigation between the two companies, resolving all outstanding disputes.
As per the settlement, the disputed patent families will now be jointly owned. Shanghai, China-based AMEC has also made an undisclosed payment to Applied Materials and the two companies have agreed to collaborate on projects in future.
Applied filed a suit with the U.S. Northern District Court of California in 2007, claiming that AMEC was allegedly involved in misappropriation of trade secrets, breach of contract and unfair competition. The co-defendants in the suit included several AMEC executives, who were former employees at Applied Materials.
AMAT is currently trading at $13.61, down $0.19 or 1.38%, on the Nasdaq.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.