SmarTire reaches settlement with Schrader-Bridgeport on patent infringement lawsuit

SmarTire Systems, Inc. has settled a patent infringement lawsuit against Schrader-Bridgeport International, Inc. and Schrader Electronics, Ltd.

Terms of the settlement reached under the jurisdiction of the U.S. District Court for the Eastern District of Virginia are confidential, but SmarTire says “Schrader has acknowledged the validity and enforceability” of a key patent that was under dispute between the firms.

“We are very pleased with both the financial and non-financial aspects of this settlement and regard it as a positive conclusion to the action undertaken just over a year ago,” says SmarTire president Dave Warkentin. “This should positively impact our business as we continue to vigorously defend our intellectual property rights.”

SmarTire produces proprietary SmartWave wireless tire monitoring sensing and control systems. Initial product releases include the SmartWave TPMS line.

For more information, visit www.smartire.com.