HORSHAM, Pa., Feb. 4, 2020 /PRNewswire-PRWeb/ -- Music Choice and Stingray Group Inc. (formally known as Stingray Digital Group Inc.) have reached a settlement agreement related to litigation between the two companies.
Stingray has agreed to pay Music Choice US$13,250,000. Half of that amount was paid to Music Choice on February 3, 2020. The other half is payable February 15, 2021 with 2.5% interest. The Agreement settles all United States patent and other litigation between the two companies (Music Choice v. Stingray Digital Group Inc. / 2:16-cv-00586-JRG-RSP/ United States District Court for the Eastern District of Texas Marshall Division).
The settlement has no impact on the litigation between the two companies in Canada.
Music Choice has no further comment on this matter.
SOURCE Music Choice