Nexxus Lighting (NEXS +14.6%) says it's settled pending patent litigation brought against it by...

|By:, SA News Editor

Nexxus Lighting (NEXS +14.6%) says it's settled pending patent litigation brought against it by Royal Philips Electronics (PHG +0.6%). Philips will grant NEXS an ongoing, royalty-bearing license to its comprehensive portfolio of patented LED technologies under Philips' LED luminaire and retrofit bulb licensing program. NEXS will pay Philips a one-time, lump-sum royalty fee to settle past sales.