Wednesday, February 9, 2011
Insignia entered into a settlement agreement today with News America Marketing for $125 million. The parties also agreed to a 10-year exclusive agreement related to price-based shelf signs. The agreement comes after lengthy settlement negotiations last week, and on the third day of trial.
“I am pleased that we were able to reach a mutually agreeable settlement and avoid protracted litigation,” said Scott Drill, Insignia’s President, Chief Executive Officer and Secretary, in a press release.
Insignia originally filed suit in 2004.
Related Post: Insignia Trial Begins.