Cybex International Inc. said a federal appeals court denied its motion for a re-hearing in a patent dispute. Cybex said that it will not take any further action and will pay the previously reported judgment of $2.8 million, plus interest, within 30 days. The payment is not expected to result in any further change to earnings.
Previously, a jury found that Cybex infringed on patents owned by Gary Colassi for improved deck assembly for supporting an exercise treadmill.
John Aglialoro, Cybex chairman and CEO, stated, “While we are disappointed that the Court denied our request for a re-hearing, we are pleased that, with the finalization of this suit, we have no further non-insured open litigation matters.”
