• Verizon Communications Inc (NYSE: VZ) and Huawei Technologies Co have agreed to resolve two mid-trial patent-infringement lawsuits over royalties on telecommunications technology, Bloomberg reports.

• The terms of the settlement remain undisclosed. U.S. District Judge Rodney Gilstrap approved the joint motion to dismiss the cases today.

• Huawei alleged Verizon of using the former’s patented networking technology without a Marshall, Texas lawsuit license.

• Huawei argued that Verizon infringed its three patents. Verizon denied the allegations.

• Verizon blamed Huawei for the contractual obligation breach by demanding an unfairly high royalty rate. It accused Huawei of unfair competition by defrauding the standard-setting board.

• The second trial, over Huawei patents for network infrastructure and Verizon’s Smart Family and One Talk applications, was scheduled for October in Waco, Texas.

• Price action: VZ shares traded higher by 0.17% at $56.17 on the last check Monday.

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