NEW YORK (Reuters) – Peloton Interactive Inc and NordicTrack maker iFit said on Monday they have reached a comprehensive settlement to end all pending litigation between them, and that the litigation will be dismissed.
In a joint statement, the companies said Peloton agreed to license some iFit patents concerning remote control technology, while iFit will remove some on-demand leaderboard technology from its products.
(Reporting by Jonathan Stempel in New York)
