Smith & Wesson (SWHC) Settles Patent Infringement Complaints
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Smith & Wesson Holding Corporation (Nasdaq: SWHC) and its Thompson/Center Arms business, Traditions Sporting Goods, Inc., and Ardesa S.A. d/b/a Ardesa Firearms, announced today that they have reached an agreement to settle patent infringement complaints brought by Smith & Wesson in the U.S. International Trade Commission (USITC) and U.S. federal court.
Under the terms of the agreement, Traditions and Ardesa have agreed to a multi-year license agreement, allowing them to use certain Thompson/Center Arms muzzleloader rifle technology. In exchange, Smith & Wesson has agreed to dismiss all infringement claims asserted in the complaints. Further details and financial terms of the settlement are not being made available.
Under the terms of the agreement, Traditions and Ardesa have agreed to a multi-year license agreement, allowing them to use certain Thompson/Center Arms muzzleloader rifle technology. In exchange, Smith & Wesson has agreed to dismiss all infringement claims asserted in the complaints. Further details and financial terms of the settlement are not being made available.
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