UniPixel Up 3% After Settling Litigation

UniPixel (UNXL), a production-stage company that provides performance engineered film to the display, touch screen and flexible electronics markets, is higher after the company and Conductive Inkjet Technology Limited said they have agreed to settle their on-going litigation in the U.S. and the U.K.

Shares are up 2.52% at $8.14, with a 52-week range of $7.56 – $41.42.

Conductive Inkjet Technology said it will withdraw its U.K. claims that UNXL has used Conductive Inkjet Technology’s confidential information for a number of unauthorized purposes relating to its current technology, its past technology and also two of its patent filings.

UNXL in turn has agreed to withdraw its U.S. claims for declarations that it did not do what Conductive Inkjet Technology alleges, and that Conductive Inkjet Technology breached an agreement between the parties by issuing its claims in the U.K. courts.

Conductive Inkjet Technology further agreed to release any current and future claims to UNXL’s past and current technology, patents, and other property based on the subject matter of the suits. UNXL also agreed to grant Conductive Inkjet Technology certain limited rights to use technology that would be protected by the patents arising from the disputed patent filings.

No money will change hands as part of the settlement. The parties agree that UNXL owes no further duty of confidentiality to Conductive Inkjet Technology regarding any of its technology. Both companies did not admit to any wrong-doing in connection with this dispute.