Shuffle Master, Inc. Announces VendingData Lawsuit Settlement
Thursday July 14, 5:28 pm ET
biz.yahoo.com
LAS VEGAS--(BUSINESS WIRE)--July 14, 2005--Shuffle Master, Inc. (NASDAQ National Market: SHFL) announced today that it has settled its litigation with VendingData Corporation over VendingData's Random Ejection shuffler. This litigation has been referred to as VendingData I.
Under the terms of the Settlement Agreement, VendingData is paying Shuffle Master $800,000, one-half payable immediately and the other half payable in ten (10) months. Shuffle Master has granted VendingData a conditional Covenant Not To Sue concerning Shuffle Master's U.S. patents 6,028,258 and 6,325,373, the patents which were at issue in this litigation. Each party has completely and fully released the other for any acts or omissions committed prior to the effective date of the settlement. These releases have no effect with respect to Shuffle Master's litigation against VendingData's Poker-1 shuffler, referred to as VendingData II. The settlement does not restrict either party's ability to bring new actions for any wrongful acts or acts of infringement allegedly committed after the settlement date. |
