NEW YORK (Reuters) - Peloton Interactive Inc and NordicTrack maker iFit said on Monday they have reached a comprehensive settlement to end all pending litigation between them, and that the litigation will be dismissed.
In a joint statement, the companies said Peloton agreed to license some iFit patents concerning remote control technology, while iFit will remove some on-demand leaderboard technology from its products.
(Reporting by Jonathan Stempel in New York)
This article has been provided by a DearWallstreet contributor.
All content submitted by this author represent their personal
opinions, and should be considered as such for entertainment
purpose only. All opinions expressed are those of the writer,
and may not necessarily represent fact, opinions, or bias of
Dear Wallstreet is an exclusive news service dedicated to display engaging
financial media with a focus on capital markets. For more information about our
company's mission statement, write email@example.com
on this site is not a solicitation to buy or sell securities and should be regarded as "entertainment
use only". Each content provider featured on DearWallstreet.com has their own opinion and bias and may
not share similar views as DearWallstreet.com. DearWallstreet.com is not a registered financial advisor,
or registered financial advisory firm. Any statement or opinion presented on DearWallstreet.com should
be considered "as is" without warranties of any kind either expressed or implied, and should NOT be
considered investment advice. By using this site, you agree to the terms presented in our Full
Disclosure & Disclaimer Page.
Enter your email to receive the latest
headlines and stock alerts to your inbox: