ELGIN, Ill., Feb. 28, 2017 /CNW/ -- Lynk Labs, Inc., Acuity Brands, Inc. and Schneider Electric have agreed to resolve all claims in the patent lawsuit filed by Lynk Labs back in June 2015. The financial terms and other details of the settlement between the parties are confidential. As part of the agreement, Acuity and its Affiliates received licenses to a portion of the patent portfolio owned by Lynk Labs.
Lynk Labs, Inc., a leading LED technology manufacturer announced today that it has reached a confidential settlement in its patent infringement and contractual breach lawsuit with Acuity Brands, Inc. and Schneider Electric. "This is a significant achievement and winning milestone for Lynk and its shareholders," said Mike Miskin, Chairman and CEO of Lynk Labs, Inc. "This settlement validates the value and contribution made by Lynk and our Intellectual Property in the LED industry."
The complaint, originally filed by Lynk in June 2015 against Juno Lighting Group, later added Schneider Electric for patent infringement and breach of contract. Following Acuity Brands acquisition of Juno Lighting Group, Lynk separately added Acuity to the case for patent infringement claims. After nearly two years of litigation in the U.S. District Court of Illinois, the parties have agreed to settle and enter a license agreement.
"Lynk has invested Millions of dollars in R&D that has enabled LEDs to be easily designed into, and used in LED replacement lamps such as T8 LED tubes, MR lamps, or lighting systems such as track lights, down lights and more, as well as powering LED lighting with high frequency AC sources such as electronic ballasts, transformers and inverters," said Mike Miskin. Lynk will continue to expand its patent portfolio and licensing program which includes over 50 US and International issued and pending patents ranging from fundamental AC LED circuits to complete LED lighting systems in both AC and DC LED technologies, display lighting and more. More information about Lynk Labs IP portfolio can be found at www.lynklabs.com.
About Lynk Labs, Inc.:
Lynk Labs is a market leading innovator of lighting-class LED technology, lighting products and LED lighting system components. Lynk manufactures and markets LED components, drivers and system kits for lighting OEMs. Lynk also offers licensing opportunities in select areas and applications within its patent portfolio.
Lynks' product families include SnapBrite LED assemblies, GeoLite LED lamps and system kits, BriteDriver AC LED drivers and Tesla AC LED components. For additional product and Company information, please refer to www.lynklabs.com. For inquiries about this press release contact us at email@example.com
Lynk Labs®, SnapBrite®, Tesla®, GeoLite® and BriteDriver® are registered trademarks of Lynk Labs, Inc.
SOURCE Lynk Labs, Inc.