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Acacia Subsidiary Enters into Settlement Agreement with Ritek Corporation

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Courtesy of Benzinga.

Acacia Research Corporation (Nasdaq: ACTG) announced today that its wholly owned subsidiary, Optical Memory Storage LLC, has entered into a settlement and license agreement with Ritek Corporation covering a portfolio of patents that apply to optical memory storage solutions.

This settlement agreement resolves patent litigation Civil Action No. 2:11-cv-12566-PDB-MJH that was pending in the United States District Court for the Eastern District of Michigan.

(c) 2012 Benzinga.com. All rights reserved. This material may not be published in its entirety or redistributed without the approval of Benzinga.


For more Benzinga, visit Benzinga Professional Service, Value Investor, and Stocks Under $5.

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