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MTX Settles Trademark Dispute

5/24/2007 02:51:00 PM Eastern

Phoenix — MTX and Mitek said they reached a settlement with 7 Elephants Distribution and Ashkan Tabibnia and Sharam Tabibnia whereby these companies will refrain from selling MDX audio products.

Mitek claimed the MDX brand sold by 7 Elephants and the Tabibnias infringed on MTX’s trademark.

In addition, 7 Elephants and the Tabibnias have paid Mitek an undisclosed dollar amount.

Earlier this year, Mitek was granted a preliminary injunction, which stopped 7 Elephants from selling MDX products.In its order, the United States District Court judge said Mitek was likely to prevail in its claims that 7 Elephants and the Tabibnias were reasonably likely to confuse Mitek customers through the MDX brand designation, said Mitek.