Tessera, AMD Announce Settlement of Pending Litigation
Tessera Technologies, Inc. (NASDAQ: TSRA) (the “Company” or “we”) announced today that its Tessera, Inc. subsidiary has entered into an agreement settling all pending litigation with Advanced Micro Devices, Inc. (NYSE: AMD).
“We are glad to see AMD join us in moving beyond this litigation,” said Bernard “Barney” Cassidy, president, Tessera Intellectual Property Corp.
The specific financial terms of the agreement are confidential. Tessera, Inc. and AMD agreed to dismiss claims and counterclaims between the two parties relating to Tessera, Inc.'s patent infringement claims pending in the United States District Court, Northern District of California. The Company is not providing additional financial guidance in connection with this agreement.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.