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Vizio, Competitors Settle Suit

Irvine, CA — Flat-panel display manufacturer, Vizio has entered into a business resolution settling a patent infringement lawsuit filed in the U.S. District Court for the Southern District of New York. The lawsuit was brought by several Vizio competitors who license their MPEG-2 patents through MPEG-LA. As part of the settlement, Vizio has entered into an MPEG-2 Patent Portfolio License, and the lawsuit will be dismissed.

“We are pleased that the we have reached a mutually acceptable business resolution, it is Vizio’s policy to respect the rights of intellectual property, thoroughly investigate all claims and vigorously defend our legal rights when we feel a claim is invalid.” stated Laynie Newsome, Vizio co-founder, VP of sales and marketing communications.