Peloton Interactive and NordicTrack maker iFit said they have settled all pending lawsuits between them where fitness equipment makers have accused each other of infringing on their respective patents.
In a joint statement on Monday, the companies said that Peloton agreed to license certain iFit patents related to remote control technology, while iFit will remove certain on-demand leaderboard technology from its products.
Leaderboards compare how riders taking classes are performing relative to other riders, including in real time.
New York-based Peloton settled six days after reporting a record quarterly loss of $757.1 million, as it wrestled with dwindling demand for its bikes and treadmills, and more people resumed pre-pandemic activities. .
Peloton sued Logan, Utah-based iFit, once known as Icon Health & Fitness, for violations related to its leaderboard technology in Delaware Federal Court in 2020 and 2021.
Meanwhile, iFit filed complaints against Peloton in a Delaware court and the US International Trade Commission in 2021 and 2022, alleging that Peloton’s Bike+ infringed a patent that allowed users to alternate between biking and weightlifting .
The settlement also followed a Delaware judge’s May 13 dismissal of the Peloton lawsuit that accused iFit of trade secret theft.
The matter came to light after a freelance prop man working on a commercial shoot in October 2020 copied scripts for Peloton TV commercials and a related digital ad campaign to his childhood friend, an iFit mechanic.
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