Barnes & Noble, Inc. (NYSE:BKS - News), the world’s largest bookseller, today announced that it has settled a lawsuit brought against the Company by Spring Design, Inc. Spring Design initiated legal action against Barnes & Noble in November 2009, in the United States District Court for the Northern District of California, in connection with Spring Design’s Alex eReader.
Under the terms of the settlement agreement, Spring Design will grant Barnes & Noble a non-exclusive, paid-up royalty free license for the entire portfolio of Spring Design patents and patent applications. The terms of the settlement are otherwise confidential. The settlement agreement announced today resolves all claims brought by Spring Design, which will be dismissed with prejudice.
Eugene V. DeFelice, Vice President, General Counsel and Secretary of Barnes & Noble, Inc., said, “We are pleased to put this matter behind us. NOOK ColorTM and NOOKTM, together with Spring Design’s patents and patent applications, have become two of our most innovative and highly-sought after devices. Barnes & Noble is pleased to add Spring Design’s patents and patent applications as a complementary addition to our rapidly growing digital portfolio.”