Two vehicle auction companies that sued each other over ownership of online technology have resolved their dispute voluntarily.
Copart Inc., a salvage auction company, said in a statement that a federal court late last month dismissed Manheim's claims against Copart alleging patent infringement. A court official said the suit was dismissed after the two sides reached a settlement.
The statement also announced the dismissal of Copart's counterclaims against Manheim that alleged antitrust violations.
"The matter was resolved amicably with express denials of liability from both parties," the Copart statement said. Manheim, the nation's largest auto auction company, issued a similar statement. Neither company discussed terms of the settlement.
Manheim sued Copart last year. It alleged that Copart's VB2 online bidding system infringes on technology that Manheim owns.
Copart countersued, accusing Manheim of antitrust violations. Copart uses VB2 to sell vehicles that have been wrecked or stolen and recovered. The Fairfield, Calif., company also markets its online system to independent auctions that sell nonsalvage vehicles.
Both suits were filed in U.S. District Court in Atlanta, where Manheim is headquartered.
Manheim operates 89 auction sites in North America. Its Total Resource Auctions salvage subsidiary operates at 25 of those sites. Copart operates 120 salvage auction sites in the United States and Canada.
You may e-mail Arlena Sawyers at [email protected]