Digital Angel Corp. (DOC), a manufacturer of visual and electronic identification tags and implantable radio frequency identification microchips, on Monday said it has settled its patent infringement litigation against Datamars Inc., Datamars S.A., Crystal Import Corp. and Medical Management International Inc. Financial terms of the settlement were not disclosed.
Under the terms of the settlement, the parties have granted mutual releases and the claims have been dismissed.
With the resolution of this and other litigation matters, the company expects to significantly reduce its litigation expense, which totaled about $1.5 million for the first half of this year.
Digital Angel is majority-owned by Applied Digital Inc. (ADSX), which also owns a majority position in VeriChip Corp. (CHIP).
DOC is currently trading at $1.55, up 4 cents or 2.65%.
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