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Penguin Solutions' Cree LED Brand Resolves Patent Dispute With Promier Products

Penguin Solutions' Cree LED Brand Resolves Patent Dispute With Promier Products

MT newswireMT newswire2026/08/31 17:26
01:26 PM EDT, 08/31/2026 (MT Newswires) -- Penguin Solutions' (PENG) Cree LED brand and Promier Products have mutually settled their patent infringement dispute involving Cree LED's patents about LED components used in portable lighting products, the companies said on Monday. As part of the settlement, Cree LED has granted Promier Products a limited license to certain Cree LED patents covering LED components, according to a statement. Financial details related to the settlement were not disclosed. Shares of Penguin Solutions were down 1.4% in Monday trading. Price: 48.74, Change: -0.77, Percent Change: -1.56
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