CalAmp Receives $9 Million Settlement

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CalAmp Corp. said Friday that Rogers Corp. agreed to settle a lawsuit over the performance of a Rogers printed circuit board laminate material used by CalAmp in its wireless products.

The Oxnard manufacturer said that under the settlement reached through court-mandated mediation, Rogers of Rogers, Conn., will pay CalAmp $9 million in cash. CalAmp said it is required to use $4 million of the proceeds to pay down a bank term loan, but hopes to make an even larger payment.

Rogers admitted no wrongdoing or liability for any of CalAmp’s claims in the lawsuit filed last May, which concerned products CalAmp sold to a Direct Broadcast Satellite customer.

CalAmp shares rose 11 cents, or 21 percent, to 64 cents in morning trading on the Nasdaq.

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