Applied Optoelectronics and Molex Reach Settlement
Rhea-AI Summary
Applied Optoelectronics (NASDAQ: AAOI) has announced a settlement with Molex, , resolving their patent infringement dispute and related litigation on mutually satisfactory terms. Dr. Thompson Lin, the company's Founder, President, and CEO, expressed satisfaction with the agreement, highlighting the importance both companies place on patent protection and respecting intellectual property. Specific details of the settlement remain confidential.
Positive
- Settlement of patent dispute with Molex, potentially avoiding costly litigation.
- Affirms commitment to patent protection and intellectual property respect.
Negative
- None.
News Market Reaction
On the day this news was published, AAOI gained 2.59%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
SUGAR LAND, Texas, June 21, 2024 (GLOBE NEWSWIRE) -- Applied Optoelectronics, Inc. (NASDAQ: AAOI), a leading provider of fiber-optic access network products for the internet datacenter, cable broadband, telecom and fiber-to-the-home (FTTH) markets, announced today that it has settled its patent infringement dispute and related litigation against Molex, LLC on mutually satisfactory terms.
“We are pleased to have reached an agreement with Molex. Both of our companies value patent protection and are committed to respecting the intellectual property of others,” said Dr. Thompson Lin, Applied Optoelectronics Inc. Founder, President and Chief Executive Officer.
Details regarding the confidential settlement agreement were not disclosed.
About Applied Optoelectronics:
Applied Optoelectronics, Inc. (AOI) is a leading developer and manufacturer of advanced optical products, including components, modules and equipment. AOI's products are the building blocks for broadband fiber access networks around the world, where they are used in the internet datacenter, CATV broadband, telecom and FTTH markets. AOI supplies optical networking lasers, components and equipment to tier-1 customers in all four of these markets. In addition to its corporate headquarters, wafer fab and advanced engineering and production facilities in Sugar Land, TX, AOI has engineering and manufacturing facilities in Taipei, Taiwan and Ningbo, China. For additional information, visit www.ao-inc.com.
Investor Relations Contact:
The Blueshirt Group
Lindsay Savarese
+1-212-331-8417
ir@ao-inc.com
Cassidy Fuller
+1-415-217-4968
ir@ao-inc.com
FAQ
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