In January 2014, Global OLED Technology (GOT) filed a complaint in the Supreme Court of the State of New York against eMagin for breach of license agreement.
Today eMagin announced that it entered into a settlement agreement with Global OLED Technology. The two companies terminated the original patent license agreement in exchange for mutual releases and the payment by eMagin of a one-time, undisclosed settlement amount. GOT will dismiss its lawsuit and eMagin will not pay any royalties to GOT (their current product offering does not incorporate any GOT IP.
eMagin has been a licensee of GOT's patent portfolio (which originated at Kodak) since 1999 (eMagin was known as FED Corporation back then), and in its lawsuit GOT said that they breached its patent license agreement by failing to pay annual minimum royalty payments, neglecting to report or pay royalties for the sales of licensed products, and breaching certain confidentiality obligations.
