BIOLASE Technology, Inc. (BIOLASE), a dental devices company, has reached a final settlement agreement with National Laser Technology, Inc. (NLT). As per the agreement, both companies resolve the claims and counterclaims in the lawsuit between them which is pending in the Southern District of Indiana concerning NLT's sale of used BIOLASE dental lasers. The claims of both parties will be dismissed with prejudice.
NLT had brought the suit in August 2008 alleging, in the midst of other things, that BIOLASE made false statements to dentists concerning NLT’s sale of used BIOLASE lasers and refused to sell laser tips and other parts to dentists if they did business with NLT in violation of antitrust and unfair competition laws.
BIOLASE has filed counterclaims alleging that NLT infringed BIOLASE’s copyrights and trademarks, made false and misleading statements, and modified, sold, and serviced used BIOLASE lasers without pre-market approval from the FDA in violation of unfair competition laws.
While each party continues to deny the allegations against it, the parties have agreed to resolve their dispute. The parties are looking forward to selling their respective products.