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NEW YORK (Reuters) – Peloton Interactive (NASDAQ:PTON) Inc has reached a settlement of a lawsuit in which Lululemon Athletica (NASDAQ:LULU) Inc accused the exercise bike maker of infringing its patents by developing a line of apparel.
Without admitting wrongdoing, Peloton has agreed to phase out “certain designs” that Lululemon had objected to in a lawsuit filed in November, Peloton said on Friday.