Maverick American, Pacific Cycle, and Trek Bicycle Corporation have resolved on amicable terms their lawsuits concerning alleged claims of patent infringement. In the lawsuits, Pacific Cycle asserted that Maverick Americans ML7 and Treks Klein Palomino bicycles infringe United States Patent Number 6,099,010 titled “Bicycle with Crank Assembly Suspension System.” Trek claimed that Pacific Cycles iDrive bicycles infringe its United States Patent Number 5,685,553 titled “Suspension System for a Bicycle Having a Y Shaped Frame.”
Under the settlement, Pacific Cycle licensed the use of its U.S. Pat. No. 6,099,010 to Maverick American for use on its ML7 bicycle and to Trek for use on its Klein Palomino line of bicycles. Also under the settlement, Trek licensed its patented Y Shaped Frame Suspension System for use by Pacific Cycle. The royalty rate and other terms of the licenses are confidential.
All the parties to the dispute expressed satisfaction concerning the negotiated settlement.