Digi International (DGII) announced the settlement of a patent infringement lawsuit with U.S. Ethernet Innovations or USEI, LLC, for $1.525 million.
On May 29, 2012, USEI filed a lawsuit against Digi, which was amended on September 21, 2012, including allegations against Digi pertaining to the infringement of four patents related to Ethernet technology. The settlement fully resolves the claims by USEI for both Digi and end users of its products and requires Digi to make a one-time payment of $1.525 million to USEI with no further payment obligations going forward. Digi has recorded the agreed settlement in its second fiscal quarter 2013 results, which Digi expects to release on April 25, 2013.
Net of taxes, the settlement is $1.0 million and is expected to reduce reported earnings per share for the second fiscal quarter of 2013 by about $0.04.
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