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

Think like an owner

first_imgA leader’s role is to think about the big picture.Undoubtedly, you have leaders within a number of departments throughout your organization – a set leader over a marketing, research and development or sales department, perhaps. These leaders are already responsible for seeing the big picture within their designated departments, but what if we encouraged them to think as if they were in charge of the whole operation?Having all the leaders within your organization think like owners may make life a little noisier at times, but it could also promote cohesiveness and enhance the success of your business.A post on the Harvard Business Review blog by Robert Steven Kaplan, president and chief executive of the Federal Reserve Bank of Dallas, says leadership doesn’t stop at your job description. Instead, “[i]t starts with taking on a broader perspective in figuring out what you truly believe should be done – that is, as if you were an owner.” continue reading » 36SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Cricket News South Africa Whitewashed 3-0: Five Other Times India Have Inflicted Humiliating Clean Sweeps

first_imgNew Delhi: Virat Kohli’s Indian cricket team have created history in the Ranchi Test by winning the final match by an innings and 202 runs to inflict a 3-0 whitewash on South Africa. This was the first time India had inflicted a 3-0 whitewash of South Africa and this was the first time since 1935 that the Proteas had suffered back-to-back innings defeats in a three-Test series. This was their joint-third heaviest defeat in Tests in terms of innings. India have inflicted a Test whitewash now for the sixth time. With this instance, here are five other instances when India have achieved a whitewash in a three-Test series or more.England ‘Brownwashed’ For First Time 1992/93This was the first time that India had ever whitewashed an opponent in Tests. India won the first Test in Eden Gardens by eight wickets thanks to Mohammad Azharuddin’s 182. In the Chennai Test, Sachin Tendulkar scored his first century in India as they secured an innings victory. The whitewash was complete when Vinod Kambli scored a double century in Mumbai and India won by an innings and 15 runs. Anil Kumble, Venkatapathy Raji and Rajesh Chauhan took 46 off the 60 wickets, with Kumble finishing with 21 wickets.Sri Lanka Hammered In 1994 TourSri Lanka had put up some solid performances against India in Tests ever since their debut in 1982. Their first Test series win came against India in 1985. However, in the 1994 tour of India, they were comprehensively outplayed. Navjot Singh Sidhu’s record eight sixes in his knock of 124 and Sachin Tendulkar’s 142 had demoralised Sri Lanka. When Kumble took 11 wickets in the match, including 7/59, Sri Lanka were routed by an innings in the Lucknow Test. Azharuddin’s century in the Bengaluru Test, combined with an efficient performance from the bowlers, gave India yet another innings win. In Ahmedabad, Kapil Dev went past Sir Richard Hadlee’s tally of most wickets and yet another century from Azhar meant India had whitewashed Sri Lanka and all Tests were victories by a margin of an innings. Australia Decimated By MS Dhoni’s India In 2013Australia had whitewashed India 4-0 in their tour Down Under in 2011 and now it was India’s turn to hit back hard. MS Dhoni’s record-breaking 224 laid the foundation for a famous win in Chennai. Cheteshwar Pujara’s 204 and Murali Vijay’s 167, backed by R Ashwin’s 5/63 gave India a big win in Vizag. In Mohali, a tour-de-force performance on debut from Shikhar Dhawan gave India a tense five-wicket win despite one whole day being abandoned due to rain. In Delhi, India inflicted a 4-0 whitewash for the first time with a big victory thanks to Ashwin and Ravindra Jadeja. In that series, it was the beginning of the Ashwin-Jadeja spin duo that would wreck opponents at home.New Zealand Feel The Heat In 2016New Zealand were undone by the exploits by Ashwin and Jadeja in the Kanpur Test while in Kolkata, Bhuvneshwar Kumar’s five wicket haul and solid contributions from Pujara, Ajinkya Rahane and Rohit Sharma gave India a resounding win. In Indore, a 365-run stand between Virat Kohli and Rahane deflated New Zealand. Kohli smashed 211 and Rahane 188 but it was Ashwin who ran through the New Zealand batting with 13 wickets in the match. Sri Lanka Destroyed At Home In 2017Dhawan set the ball rolling with a rollicking 190 and he was given great support by Pujara. Kohli also chipped in with a century in the second innings as India got their tour off to a great start with a 304-run win in Galle. In the second innings, Pujara and Rahane scored centuries but Sri Lanka could not cope with Ashwin and Jadeja. Although Dimuth Karunaratne and Kusal Mendis scored centuries, Sri Lanka still went down by an innings.Also Read | India Trounce South Africa To Achieve Historic 3-0 WhitewashThe whitewash was complete at Pallekele when Hardik Pandya and Dhawan slammed centuries and India won by an innings. This was the first time India had achieved a 3-0 whitewash overseas. For all the Latest Sports News News, Cricket News News, Download News Nation Android and iOS Mobile Apps.last_img read more