Endologix (NSDQ:ELGX) agreed to pay Cook Medical $5 million to settle a patent infringement lawsuit over stent graft technology.
Cook filed the original lawsuit in October 2009, accusing Endologix of violating a pair of its stent graft patents. The case was slated to go to trial this month.
Endologix admitted no liability in the settlement.
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“We are pleased to enter this settlement agreement with Cook, which ends the patent dispute between the two companies and eliminates our exposure to continued legal liability and costs in the matter,” Endologix president & CEO John McDermott said in prepared remarks.
