AVX and Presidio Components Settle All Outstanding Litigation
AVX Corporation and Presidio Components have settled all outstanding litigation claims, entering into confidential licenses and agreements.
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Rhea-AI Summary
AVX Corporation and Presidio Components have settled all outstanding litigation claims, entering into confidential licenses and agreements. AVX's CEO, Johnny Sarvis, expressed satisfaction with the resolution, highlighting that it enables AVX to focus on delivering advanced electronic solutions, including ultrabroadband capacitors. Presidio's CEO, Alan Devoe, noted that the agreement validates their patents, allowing them to concentrate on developing ceramic capacitors. This partnership aims to enhance customer value without the burden of ongoing legal disputes.
Positive
- Settlement allows AVX to focus on advanced electronic components and customer solutions.
- Agreement supports Presidio in concentrating on ceramic capacitor development.
Negative
- None.
Details
News Market Reaction – AVX
The recorded move for AVX in the trading session of this news was -91.55%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FOUNTAIN INN, SC and SAN DIEGO, CA, Nov. 17, 2020 (GLOBE NEWSWIRE) -- AVX Corporation, a Kyocera group company, and Presidio Components, Inc. today announced they have settled all outstanding claims between the companies. The two parties have entered into appropriate licenses and agreements and have agreed to dismiss all related litigation. Specific l terms of the agreement remain confidential.
“We are pleased to have reached agreement with Presidio Components and resolved all of our outstanding litigation under terms that allow us to freely work with our customers and allows AVX to focus on building the industry’s leading portfolio of advanced electronic components,” said Johnny Sarvis, CEO of AVX Corporation. “We look forward to continuing to provide value added electronic solutions to solve our customers’ toughest electronic challenges including ultrabroadband capacitors.”
AVX is a leading manufacturer & supplier of advanced electronic components and interconnect, sensor, controls and antenna solutions.
Alan Devoe, president and CEO of Presidio Components, said, “We are very pleased to reach an agreement with AVX Corporation that recognizes the value of our patents and our contribution to the development of ceramic capacitors. The signing of this agreement allows Presidio to focus
Presidio Components is a manufacture of ceramic capacitors.
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