IMPINJ INC
For the period ended Mar 31, 2024. Filed Apr 24, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed Apr 24, 2024
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Legal Proceedings
Item 1. Legal Proceedings.
In the normal course of business, we may be named as a party to various legal claims, actions and complaints. We cannot predict whether any resulting liability will have a material adverse effect on our financial position, results of operations, cash flows, market position or stock price.
Patent Litigation
Between 2019 and 2023, we were engaged in multiple patent lawsuits with subsidiaries of NXP N.V., or NXP, our primary endpoint IC competitor. On March 13, 2024, we and NXP entered into a Settlement and Patent Cross-License Agreement dated March 13, 2024, or the Settlement Agreement which resolved all outstanding litigation and proceedings between us. For further information on these lawsuits, please refer to Note 6 of our condensed consolidated financial statements included elsewhere in this report.
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