CHICAGO, Illinois. International Valve Manufacturing, LLC and International Valve Marketing, LLC, manufacturers and marketers of the Vent-Tech® Combination Air Release and Vacuum Break Valves with Surge Protection for water and sewage applications, announced a complete settlement of all claims asserted against the two companies by Dynamic Fluid Control (PTY) Limited, a South African Corporation and owner of the Vent-O-Mat line of air valves.
On Thursday, November 3, 2011, John W. Darrah, United States District Judge for the Northern District of Illinois, Eastern Division, granted the parties’ Stipulated Motion to Dismiss with prejudice, with each party to bear its own costs, expenses, and attorney’s fees.
The lawsuit, filed in November of 2010 by Dynamic Fluid Control alleged patent infringement, trade mark infringement and unfair competition among other things. International Valve Manufacturing, LLC and International Valve Marketing, LLC deny all claims asserted in the litigation.
This settlement resolves all claims and potential counterclaims between DFC and the Defendants. While declining to discuss the terms of the agreement, Rudy Lang III, CEO of both defendant companies, indicated that he is satisfied with the result which will avoid the delay and expense associated with resolving the matter through a jury trial.
We’re very pleased to have reached a mutually acceptable settlement. Innovation and technology are at the core of our organization’s mission and we remain committed in our efforts to deliver quality and value with products that are best-in-class and deliver proven results, said Mr. Lang. This settlement allows us to focus our attention and resources towards our principle objectives to engineer better solutions, collaboratively serve water and treatment professionals and meet the diverse and challenging needs of our customers and our industry.