The litigation involved patents for slurry technology. None of the parties involved in the litigation admits liability in the settlement. Although the terms of the settlement agreement are confidential, the parties are able to announce that Rodel will receive a $1 million payment from Cabot Microelectronics, and will grant Cabot Microelectronics a license for the specific patents that were the subject of the litigation and their foreign equivalents.
"We are pleased to have reached a settlement with Cabot Microelectronics, and are satisfied with the terms, which includes the license we've granted to Cabot Microelectronics for the technology at issue," stated Tony Corey, President and CEO of Rodel. "With these matters now resolved, Rodel can focus its full attention and resources to best meeting customers' needs and bringing the next generation of pads and slurries to those customers," Corey commented.
This release includes forward-looking statements. Actual results could vary materially, due to changes in current expectations. The forward-looking statements contained in this announcement concerning demand for products and services, sales and earnings growth, actions that may be taken to improve financial performance, involve risks and uncertainties and are subject to change based on various factors, including the impact of raw materials and natural gas, as well as other energy sources, and the ability to achieve price increases to offset such cost increases, development of operational efficiencies, changes in foreign currencies, changes in interest rates, the continued timely development and acceptance of new products and services, the impact of competitive products and pricing, and the impact of tax and other legislation and regulation in the jurisdictions in which the company operates.