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LG, Vizio Resolve LCD Patent Fight

1/19/2011 02:07:16 PM Eastern

Irvine, Calif. - Vizio and LG came to a last-minute settlement resolving a
long-running complaint with the International Trade Commission (ITC) that Vizio
had violated certain LG LCD TV patents. 

The ITC was set to issue its ruling to ban importation of certain
Vizio LCD TVs Wednesday, but it was pre-empted by a terse announcement of the
settlement that morning.

"LG Electronics Inc. and Vizio Inc. settled patent-infringement
disputes in the U.S. and Taiwan over flat-panel televisions, ending more than
two years of litigation," the announcement read.

Terms weren't disclosed in a joint filing today seeking to drop
three cases pending before the U.S. International Trade Commission in Washington.
Vizio, of Irvine, Calif., and Seoul, South Korea-based LG said they have a
licensing agreement "that will resolve all outstanding patent disputes and
related actions."

In addition to the ITC cases, civil suits were pending in federal
courts in Texas and Maryland, and at the Taiwan Taipei District Court.

The parties will file requests for dismissal of all other
outstanding actions in the appropriate courts.