Cree LED and Star Headlight & Lantern Company Enter Settlement and Limited License Agreement

Rhea-AI Summary

SGH company, Cree LED, and Star Headlight & Lantern Co. have settled a patent infringement dispute. Cree LED has granted Star a limited license to certain patents related to LED components, demonstrating a mutually beneficial resolution. This agreement may enhance Star's product offering while allowing Cree LED to maintain its intellectual property rights.

Positive

• Settlement of patent infringement dispute may reduce legal costs for SGH.
• Limited license granted to Star can lead to potential revenue from licensing.

Negative

• None.

DURHAM, N.C.--(BUSINESS WIRE)--

CreeLED, Inc. (“Cree LED”), an SGH company (Nasdaq: SGH), and Star Headlight & Lantern Co., Inc. (“Star”) today announced that they have reached a mutually beneficial settlement related to a patent infringement dispute between the parties. As part of the settlement, Cree LED granted Star a limited license to certain Cree LED patents covering LED components.

About Cree LED

Cree LED offers one of the industry’s broadest portfolios of application-optimized LED chips and components, leading the industry in performance and reliability. Our team delivers best-in-class technology and breakthrough solutions for focused applications in high power and mid-power general lighting, specialty lighting and video screens. With more than thirty years of experience, Cree LED develops products backed by expert design assistance, superior sales support and industry-best global customer service. For more information, visit www.cree-led.com.

About Star Headlight & Lantern Company

Established in 1889 by five founding owners, Star Headlight and Lantern Co. was purchased later in 1889 by George Washington Jacobs and has maintained all production since then in Rochester NY. The Jacobs family has guided the company through five generations of leadership to become an industry leader in the rail, amber light and emergency lighting markets with company headquarters and manufacturing center located in Avon, New York. For more information, visit: https://www.star1889.com/.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221214005985/en/

SGH Legal Representative

John Morrow

Womble Bond Dickinson (US) LLP

john.morrow@wbd-us.com

Media Relations

Debi Polo

Sr Manager, Marketing Communications, CreeLED, Inc.

debi.polo@cree-led.com

Source: CreeLED, Inc.

FAQ

What was the recent patent dispute settlement involving SGH?

SGH's Cree LED and Star Headlight reached a settlement on a patent infringement dispute, granting Star a limited license to certain Cree LED patents.

How does the patent settlement affect SGH's business?

The settlement may reduce legal expenses for SGH and provide licensing revenue opportunities.

What are the implications of the Cree LED and Star agreement for investors?

The settlement suggests a positive resolution that could improve SGH's financial stability by avoiding prolonged litigation.