Masimo Settles Legal Beef with Mindray Medical for $25 Million
Masimo (NSDQ:MASI) said today that it agreed to settle its legal beef with Mindray (NYSE:MR) for $25 million.
The settlement ends a bevy of legal proceedings in the U.S. and China, where Mindray is based. Masimo 1st sued Mindray in December 2012 in a California federal court, alleging patent infringement and breach of contract; Mindray counter-sued the following year, asserting its own infringement, anti-trust and tortious interference claims. A trial in that case was slated for Dec. 8, according to a regulatory filing.
The settlement ends a bevy of legal proceedings in the U.S. and China, where Mindray is based. Masimo 1st sued Mindray in December 2012 in a California federal court, alleging patent infringement and breach of contract; Mindray counter-sued the following year, asserting its own infringement, anti-trust and tortious interference claims. A trial in that case was slated for Dec. 8, according to a regulatory filing.