See, VSEA knows how to work amicably with parties that are reasonable and solve issues outside of the court system, one of the most inefficient uses of resources on the planet.
Varian Semiconductor Equipment Associates Resolves All Outstanding Litigation With Applied Materials
GLOUCESTER, Mass.--(BUSINESS WIRE)--Oct. 16, 2000--Varian Semiconductor Equipment Associates, Inc. (NASDAQ: VSEA - news) announced today that the company has amicably resolved all outstanding litigation with Applied Materials, Inc. (NASDAQ: AMAT - news) by entering into a comprehensive, global settlement.
In return for payment, Applied Materials granted Varian Semiconductor a license for its past use of four of Applied Materials' physical vapor deposition patents and released all claims for infringement of those four PVD patents by the Inova system as it was made and sold as of May 7, 1997 - the date Novellus Systems Inc. (NASDAQ: NVLS - news) purchased from Varian Semiconductor the product line that manufactures Inova systems. Applied Materials also dismissed Varian Semiconductor from the patent infringement lawsuit in the federal court in San Jose, California.
Varian Semiconductor Equipment in turn agreed to dismiss its entire antitrust lawsuit against Applied Materials in the federal court in San Jose and also to dismiss all of its counterclaims in the patent infringement lawsuit.
Varian Semiconductor filed a Form 8-K/A relating to the settlement, as required, with the Securities and Exchange Commission on October 11, 2000.
Varian Semiconductor Equipment Associates, Inc. (NASDAQ: VSEA - news) is an industry leader in designing, manufacturing, marketing and servicing ion implantation systems, semiconductor processing equipment used in the fabrication of integrated circuits. Through the process and productivity advantages of single wafer technology, VSEA is providing chipmakers with high throughput, low cost and maximum yields. The company is based in Gloucester, Massachusetts and maintains offices around the world. Its stock is traded on the NASDAQ National Market System under the symbol ``VSEA.'' Additional information and background is available on VSEA's website www.vsea.com. |
