Huawei, Verizon Settle Suits on Patent Royalties Mid-Trial (1)

Huawei Technologies Co. and Verizon Communications Inc. agreed in the midst of a federal jury trial in Texas to end two patent-infringement lawsuits over royalties on telecommunications technology.

Representatives of both companies said they were pleased with the settlement, the details of which they said were confidential.

U.S. District Judge Rodney Gilstrap on Monday approved the joint motion to dismiss the cases, filed Sunday by the companies.

Verizon shares rose 19 cents to $56.26 at 12:11 p.m. New York time.

A trial began last week in Marshall, Texas, in Huawei’s case against Verizon over claims it is using Huawei’s patented ...