RaySearch settles dispute with Prowess, the financial result for 2013 restated
In May 2011, the US company Prowess filed a lawsuit against RaySearch at a court in Baltimore, Maryland, USA. Prowess claimed that RaySearch infringed on a US patent to which Prowess holds an exclusive license. RaySearch believed that there was no infringement and, in addition, that the patent should be invalidated since there was prior art in numerous older publications describing the same methods. RaySearch has now entered into a settlement agreement with Prowess. Under this agreement RaySearch will pay Prowess a fixed amount spread out over three years and Prowess will drop the lawsuit.