RICHMOND, British Columbia (Sept. 5, 2008) — SmarTire Systems Inc. said it has settled its patent infringement lawsuit against Schrader-Bridgeport International Inc. and Schrader Electronics Ltd.
SmarTire said Schrader has acknowledged the validity and enforceability of Smartire's U.S. “Tire Monitoring Apparatus and Method” patent and said Schrader has taken out a license for SmarTire's technology. Terms of the settlement in the U.S. District Court for the Eastern District of Virginia were not disclosed.
SmarTire issued its initial complaint against Siemens VDO Automotive Corp. and Schrader-Bridgeport International Inc. in September 2007.