Maverick American, Pacific Cycle, and Trek Bicycle Corporation have resolved on "amicable term" their lawsuits concerning alleged claims of patent infringement.
In the lawsuits, Pacific Cycle asserted that Maverick Americans ML7 and Treks Klein Palomino bicycles infringed US Patent Number 6,099,010 titled Bicycle with Crank Assembly Suspension System.
Trek claimed that Pacific Cycles iDrive bicycles infringed its US Patent Number 5,685,553 titled Suspension System for a Bicycle Having a Y Shaped Frame.
Under the settlement, Pacific Cycle licenced the use of its US Patent Number 6,099,010 to Maverick American for use on its ML7 bicycle and to Trek for use on its Klein Palomino line. Also under the settlement, Trek licenced its patented Y Shaped Frame Suspension System for use by Pacific Cycle.
The royalty payment levels have not been disclosed.
All the parties to the dispute expressed "satisfaction" concerning the negotiated settlement.