Acacia Research Corp. (ACTG), the patent licensing company run by interim CEO Marvin Key, said its Promethean Insulation Technology LLC unit reached a patent licensing agreement with Reflectix Inc., a maker of reflective insulation for homes and buildings.
The Newport Beach, Calif.-based company said the settlement resolves litigation that had been pending in the U.S. District Court in Marshall, Texas before Judge Rodney Gilstrap.
Promethean had sued Reflectix, based in Marklesville, Indiana in January 2015.
The patent in suit was U.S. Patent No. 8,936,847 titled “Metallized Polymeric Film Reflective Insulation Material,” is directed to metallized polymeric film reflective insulation materials.
Promethean had alleged direct infringement as well as inducement to infringement and contributory infringement by Reflectix.
Promethean has three pending infringement actions against TVM Building Products Inc., Energy Q LLC and Soprema Inc. (Canada).
Shares of Acacia gained 1 cent to $4.19 in midday trading. They have traded between $3.82 and $17.92 over the past year.
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