Green Mountain Coffee Announces $17 Million Settlement of Patent Litigation with Kraft

first_imgGreen Mountain Coffee Announces $17 Million Settlement of Patent Litigation with Kraft WATERBURY, Vt.–(BUSINESS WIRE)–Green Mountain Coffee Roasters, Inc. (NASDAQ: GMCR) announced October 23, 2008, that its wholly owned subsidiary, Keurig, Incorporated, has entered into a Settlement and License Agreement to completely settle its patent litigation with Kraft Foods Inc., Kraft Foods Global, Inc., and Tassimo Corporation (collectively “Kraft”). Pursuant to the terms of the Settlement and License Agreement, Kraft will pay to Keurig a lump sum of $17,000,000 and Keurig has granted to Kraft and its affiliates a limited, non-exclusive, perpetual, worldwide, fully paid up license of Keurig’s United States Patents Numbered 6,607,762 (the “762 Patent”) and 7,377,162 (the “162 Patent”), and United States and foreign counterpart patents connected to the 762 Patent or 162 Patent, for use in connection with the manufacture, distribution and sale of beverage brewing machines and certain beverage filter cartridges.As previously disclosed, Keurig’s patent family which covers its K-Cup(r) line of single serve beverage filter cartridges was not involved in the patent litigation.Mr. Michael J. Degnan, Vice President-General Counsel of Keurig, Incorporated, said, “The parties believe that the settlement is an efficient and pragmatic way to resolve their patent dispute. Both parties agree that it is in the best interests of their respective businesses and shareholders to avoid the cost and uncertainties of continued litigation.” Mr. Degnan continued, “Keurig plans to continue to invest in research and development and in the value of its intellectual property portfolio.”About Green Mountain Coffee Roasters, Inc. and Keurig, IncorporatedGreen Mountain Coffee Roasters, Inc. (NASDAQ: GMCR) is recognized as a leader in the specialty coffee industry for its award-winning coffees, innovative brewing technology and socially and environmentally responsible business practices. GMCR manages its operations through two wholly owned business segments: Green Mountain Coffee and Keurig. Its Green Mountain Coffee division sells more than 100 high-quality coffee selections, including Fair Trade Certified(tm) organic coffees, under the Green Mountain Coffee(r) and Newman’s Own(r) Organics brands through its wholesale, direct mail and e-commerce operations (www.GreenMountainCoffee.com(link is external)). Green Mountain Coffee also produces its coffee as well as hot cocoa and tea in K-Cup(r) portion packs for Keurig(r) Single-Cup Brewers. Keurig, Incorporated is a pioneer and leading manufacturer of gourmet single-cup coffee brewing systems for offices, homes and hotel rooms. Keurig markets its patented brewers and K-Cup(r) portion packs through office distributors, retail and direct channels (www.Keurig.com(link is external)). K-Cup(r) portion packs are produced by a variety of licensed roasters including Green Mountain Coffee. Green Mountain Coffee Roasters, Inc. has been recognized repeatedly by CRO Magazine, Forbes and SustainableBusiness.com as a good corporate citizen and an innovative, high-growth company.Forward-Looking StatementsCertain statements contained herein are not based on historical fact and are “forward-looking statements” within the meaning of the applicable securities laws and regulations. Owing to the uncertainties inherent in forward-looking statements, actual results could differ materially. Factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, the impact on sales and profitability of consumer sentiment in this difficult economic environment, the Company’s success in efficiently expanding operations and capacity to meet growth, competition and other business conditions in the coffee industry and food industry in general, fluctuations in availability and cost of high-quality green coffee, any other increases in costs including fuel, the unknown impact of management changes, Keurig’s ability to continue to grow and build profits with its roaster partners in the office and at home markets, the impact of the loss of one or more major customers for Green Mountain Coffee or reduction in the volume of purchases by one or more major customers, delays in the timing of adding new locations with existing customers, Green Mountain Coffee’s level of success in continuing to attract new customers, variances from sales mix and growth rate, weather and special or unusual events, as well as other risks described more fully in the Company’s filings with the SEC. Forward-looking statements reflect management’s analysis as of the date of this press release. The Company does not undertake to revise these statements to reflect subsequent developments, other than in its regular, quarterly earnings releases.last_img read more

COVID-19: New-look Pogba provides update from quarantine (Video)

first_imgThe Frenchman, who has been injured for much of the season and last played for United on Boxing Day, is having to build his fitness back up from the confines of his house with the government enacting a lockdown on Monday evening to try and curb the coronavirus pandemic.United shut down their Carrington facility last week before the announcement, with Pogba already sharing a clip of him training with teammate Victor Lindelof at the ‘PP Arena’, though now he has to work solo.Recording himself as part of Adidas’ #hometeam initiative, he said: ‘ This is Paul Pogba, aka “La Pioche”. I am at the PP Arena.‘This is where I spend most of my time at home in confinement.‘I’m with the little one [his son]. We’re playing football, fooling around. I dribble past him until he grows up and does the same to me! Loading… Manchester United midfielder Paul Pogba has posted another update from his makeshift training gym at home – this time sporting a freshly shaved head.Advertisement Promoted ContentWho Earns More Than Ronaldo?Who Is The Most Powerful Woman On Earth?10 Risky Jobs Some Women DoBest & Worst Celebrity Endorsed Games Ever Made12 Iconic Actors Whose Careers Were Stunted By A Single MovieThis Guy Photoshopped Himself Into Celeb Pics And It’s Hysterical14 Hilarious Comics Made By Women You Need To Follow Right NowLil Nas X Is About To Beat A World Record!Couples Who Celebrated Their Union In A Unique, Unforgettable Way6 Extreme Facts About Hurricanes10 Albino Animals Who Look Like Ghosts7 Ways To Understand Your Girlfriend Better Read Also: Man United ready shirt number for Sancho after £120m switch‘These are the things you can do at home if you have a garden, if you’re inside… ‘Even in a small apartment with a foam ball, like we used to do back in the day. We play, we break things, we say sorry to our parents and go on – I’m kidding!‘I’ll see you soon, on the pitch. Not this one, the big one! Stay home, OK?’Pogba is due to be out of contract at Old Trafford next year, prompting fears he could leave this summer with both Real Madrid and Juventus circling, though relations between his agent, Mino Raiola, and United’s hierarchy are reported to have improved and talks over a new deal could be back on the table.FacebookTwitterWhatsAppEmail分享 last_img read more

Gbarnga Feuds Over Naming of Street in Sen. Taylor’s Honor

first_imgSen. Jewel Howard TaylorThe naming of a street in honor of Bong County Senator Jewel Howard-Taylor in the provincial capital of Gbarnga has created intense confusion as some eminent citizens are now distancing themselves from the decision, which they said was not reached by consensus. The move to honor Sen. Taylor has backfired with council members differing with former Mayor Melvin Cole.In a mobile phone interview with the Daily Observer, one of the council members, Ansu Sesay, said he was a member of the council when Cole was serving as mayor, “but I don’t know how the renaming of the street in honor of Mrs. Taylor came about.” Cole is now Representative-elect of Bong County Electoral District #3.Sesay said the decision to name the street did not come from the council, but was a unilateral decision by Cole, “because I heard about the development only in the media.”He said there are a lot of streets in Gbarnga that bear names dating back to the beginning of the existence of the city, which were neither given by current Mayor Viola Cooper, nor then mayor, Cole.“There was no meeting held among the stakeholders to arrive at a consensus to name or rename any street in honor of anyone,” he said.Sesay said if Rep. Cole confirmed that the naming of the street in Sen. Taylor’s honor met the agreement of the council, “then he will have to provide evidence, because they have a secretary that can take down minutes of every meeting.”He accused Cole of misleading the public that they all agreed to name the street in honor of Sen. Taylor, “because during a recent meeting with Sen. Taylor she only told the body of her intention to bring sign posts for streets in Gbarnga that will be placed at the various intersections to direct visitors.”Sesay said in that meeting, Sen. Taylor informed them that funding for the project was provided by authorities of the Liberian Agency for Community Empowerment (LACE), “so we all agreed to her suggestion not to name the street in her honor.”In his reaction, Cole said Sen. Taylor did not name the street in her own honor, but the decision was through an agreement reached by the Gbarnga City Council.“We always made mistakes to put people who don’t know how to read and write to a position of trust in this country,” the former mayor, now Representative-elect, said.Cole said it was based on an agreement between the city council and administration that they named the street in honor of Sen. Taylor for her “immense contributions to the county,” and to demonstrate to that the county respects her for the level of development she spearheaded in the county.He said it was through Sen. Taylor’s effort that the streets in Gbarnga were named, “so they decided to name one of the streets in her honor.” Most of the streets in Gbarnga did not have names, he said, “but with the intervention of Sen. Taylor with financial aid, the naming of the streets took effect.”Cole said they named other streets in honor of people that have been actively working for the growth and development of the county. If Mayor Cooper removes the sign posts to the street, she will be resisted, he added, “because we are not going to take it from her.”Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more