HP to Pay $400 Million to Settle Patent Suit
Hewlett-Packard Co. will pay Pitney Bowes Inc. $400 million to settle a suit over print technology patents, the companies announced.
The companies resolved all litigation without admitting wrongdoing. A 1995 suit brought by Stamford, Conn.-based Pitney Bowes involving print technology patents was scheduled to go to trial Monday in U.S. District Court in Bridgeport.
For the record:
12:00 a.m. June 13, 2001 FOR THE RECORD
Los Angeles Times Wednesday June 13, 2001 Home Edition Part A Part A Page 2 A2 Desk 1 inches; 35 words Type of Material: Correction
Litigation--A brief in the June 5 Business section misstated the status of some Hewlett-Packard Co. and Pitney Bowes Inc. litigation over print technology patents. The companies have settled all suits, including those related to fax machines.
Hewlett-Packard later filed patent infringement suits against Pitney Bowes related to fax machines and other products. Those suits are still pending.
On the New York Stock Exchange, Pitney Bowes fell 6 cents to close at $39.56, while Palo Alto-based Hewlett-Packard rose 35 cents to $29.60.
