NAUTIQUE AND MALIBU SETTLE PATENT LITIGATION
ORLANDO, FLA (February 9, 2015) – Today Nautique Boats announced a resolution of its patent litigation with Malibu. The resolution includes both parties dropping their claims and counterclaims. The resolution also includes Nautique entering a license agreement related to certain Malibu’s patents.
Nautique’s President and CEO Bill Yeargin stated, “Our team is happy to have this dispute behind us and look forward to building on Nautique’s award winning product and market share increases of the past few years.” “While we felt strongly about our position in this dispute we also know there is risk associated with the judicial process. We are satisfied with the settlement and look forward to growing our industry for everyone’s benefit,” Yeargin added.