UNIVERSAL ELECTRONICS INC. (NASDAQ:UEIC) Files An 8-K Other EventsItem 8.01 Other Events
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Item 8.01 Other Events
On December 13, 2016, Universal Electronics Inc. (NASDAQ:UEIC) (“UEI”) finalized the settlement of all of its outstanding litigation and U.S. Patent and Trademark Office matters and appeals with and against Universal Remote Control, Inc. (“URC”), Ohsung Electronics Co., Ltd (“Ohsung”) and Ohsung’s subsidiaries (collectively, the “URC Entities”). While the terms of the finalized settlement remain confidential, in exchange for the dismissal by UEI and the URC Entities of all litigation and U.S. Patent and Trademark Office matters and appeals, UEI will pay to URC, on behalf of the URC Entities, $6.6 million, $4.6 million of which will come from the surety bond previously placed by UEI in connection with these litigation matters. In addition, the URC Entities will receive a limited paid up license to the technologies covered by the patents in this litigation and a limited covenant not to sue with respect to certain of URC’s products existing as of the settlement date.
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About UNIVERSAL ELECTRONICS INC. (NASDAQ:UEIC)
Universal Electronics Inc. (UEI) develops control and sensor technology solutions and manufactures a line of pre-programmed and universal remote control products, audio-video (AV) accessories, and intelligent wireless security and automation components. The Company’s offerings include pre-programmed universal infrared (IR) and radio frequency (RF) remote controls that are sold primarily to subscription broadcasting providers, original equipment manufacturers (OEMs), retailers, and private label customers, and integrated circuits, on which its software and universal device control database is embedded, sold primarily to OEMs, subscription broadcasting providers, and private label customers. Its offerings also include software, firmware and technology solutions that enable devices, such as televisions, set-top boxes, stereos, smart phones tablets, gaming controllers and other consumer electronic devices to wirelessly connect and interact with home networks and interactive services. UNIVERSAL ELECTRONICS INC. (NASDAQ:UEIC) Recent Trading Information
UNIVERSAL ELECTRONICS INC. (NASDAQ:UEIC) closed its last trading session up +0.15 at 66.10 with 79,100 shares trading hands.
Universal Electronics Inc. (UEI) develops control and sensor technology solutions and manufactures a line of pre-programmed and universal remote control products, audio-video (AV) accessories, and intelligent wireless security and automation components. The Company’s offerings include pre-programmed universal infrared (IR) and radio frequency (RF) remote controls that are sold primarily to subscription broadcasting providers, original equipment manufacturers (OEMs), retailers, and private label customers, and integrated circuits, on which its software and universal device control database is embedded, sold primarily to OEMs, subscription broadcasting providers, and private label customers. Its offerings also include software, firmware and technology solutions that enable devices, such as televisions, set-top boxes, stereos, smart phones tablets, gaming controllers and other consumer electronic devices to wirelessly connect and interact with home networks and interactive services. UNIVERSAL ELECTRONICS INC. (NASDAQ:UEIC) Recent Trading Information
UNIVERSAL ELECTRONICS INC. (NASDAQ:UEIC) closed its last trading session up +0.15 at 66.10 with 79,100 shares trading hands.
