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PODD > SEC Filings for PODD > Form 8-K on 27-Jun-2014All Recent SEC Filings

Show all filings for INSULET CORP



Other Events

Item 8.01. Other Events.

On June 23, 2014, Insulet Corporation (the "Company") entered into a Settlement and License Agreement (the "Settlement Agreement") with Becton, Dickinson and Company ("BD") to settle the pending patent infringement lawsuit brought by BD against the Company.
In exchange for a release of claims, covenant not to sue and license to the patents in suit from BD, the Settlement Agreement provides that the Company will make a one-time payment of $5 million to BD (the "Settlement Payment") and give BD a license to a single Company patent relating to an environmental seal for a fluid delivery device. In addition to the Settlement Payment, it is expected that the Company's legal and other expenses associated with the lawsuit will be up to approximately $2.0 million in the second quarter of 2014. Following the Company's payment of the Settlement Payment, the parties will promptly move to dismiss the pending lawsuit by BD.

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