Brief: Vimian Says Subsidiary Reaches Settlement Agreement Resolving Patent Litigation With Depuy Synthes

Vimian AB

04/04/2023 05:49

April 4 (Reuters) - Vimian Group AB  VIMIAN.ST :
    * VIMIAN SUBSIDIARY REACHES SETTLEMENT AGREEMENT RESOLVING
PATENT
LITIGATION WITH DEPUY SYNTHES
    * VIMIAN GROUP - UNDER THE TERMS OF THE AGREEMENT, THE
DEFENDANTS
ARE OBLIGED TO MAKE A SINGLE PAYMENT OF USD 70 MILLION
    * VIMIAN GROUP - SETTLEMENT WILL BE RECORDED AS FINANCIAL
ASSET
UNTIL FULL COMPENSATION UNDER CONTRACTUAL INDEMNIFICATION
PROTECTION HAS BEEN RETRIEVED
    * VIMIAN GROUP- THROUGH PURCHASE AGREEMENT FOR VOI, VIMIAN
HAS
CONTRACTUAL INDEMNIFICATION PROTECTION FOR AMOUNT OF SETTLEMENT
AND LEGAL COSTS TO DATE

Source text for Eikon:  ID:nMFNbjL0VR 
Further company coverage:  VIMIAN.ST 

 ((Reuters.Briefs@thomsonreuters.com;))