Prairie Land Millwright Services Inc. and Sioux Steel Co. have reached a settlement over an eight-year-old patent dispute related to grain-storage technology. The two companies have put an end to their legal battle after Sioux Steel emerged victorious with an $11.8 million verdict in their favor. Prairie Land initially decided to appeal the decision, but later withdrew it in agreement with Sioux Steel.
A week prior to the settlement, the two companies informed the US District Court for the Northern District of Illinois that Prairie Land had paid Sioux Steel $13.8 million to fully satisfy the court’s judgment. This settlement included pre- and post-judgment interest, costs, and supplemental damages.
The Federal Circuit formally dismissed Prairie Land’s appeal following the agreement between the parties. Sioux Steel and Prairie Land can now move forward without the weight of the patent dispute hanging over them. This outcome marks the conclusion of a long and contentious legal process for both companies, signifying a definitive end to the dispute and allowing them to put the issue behind them. In the aftermath of this decision, both companies can refocus their efforts on their respective businesses and continue serving their customers in the farm equipment industry.
