Markforged Holding Corporation, owner of Markforged, Inc. – the company that strengthens manufacturing resiliency by enabling industrial production at the point of need, has announced that Markforged will pay $17 million to Continuous Composites as directed by the Jury in the recently completed patent case.
On April 11, 2024, a jury in the United States District Court for the District of Delaware returned a verdict in the Company’s ongoing patent lawsuit against Continuous Composites Inc.
Continuous Composites announced earlier this month that the United States District Court for the District of Delaware ruled in its favour, clearing the way for a jury trial.
Markforged will pay $17 million to Continuous Composites
As previously disclosed, in July 2021, Continuous Composites, an Idaho-based company, filed a patent-infringement lawsuit against the Company. The jury determined that one of the two patent claims asserted against the Company at trial, Continuous Composites, was invalid and did not infringe.
However, the jury determined that the Company infringed on the other patent claim and awarded monetary damages. While the Company cannot predict what further action Continuous Composites may take, it is possible that they will seek additional relief through post-trial motions for royalty payments on future revenue, which could have a significant impact on the Company’s business and operations.
The Company strongly disagrees with the verdict and intends to file post-trial motions with the District Court to overturn it. The Company is considering all options, including appealing the verdict and any resulting judgement.
While the Company is currently assessing the verdict’s impact on its business, given its strong balance sheet, effective cost controls, and new, innovative product line, the Company remains focused and excited about its future and ability to continue driving the adoption of additive manufacturing on the factory floor.
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