RANCHO CORDOVA, CA – VSP Global and Aspex Eyewear Inc. announced that Aspex has agreed to pay a financial settlement to VSP Global.
Aspex Eyewear will be reinstated as an in-network frame provider under VSP’s vision care insurance policies.
Financial terms of the settlement were not disclosed.
The settlement arises from several lawsuits filed by Aspex Eyewear against VSP and Marchon Eyewear, according to a joint statement from VSP and Aspex.
“While court rulings over several years have resulted in favorable decisions for VSP Global, we are nevertheless pleased with this agreement and the opportunity for our respective organizations to move forward,” said Thomas A. Fessler, chief legal counsel and general counsel of VSP Global.
Thierry Ifergan, executive vice president of Aspex Eyewear, said: “Aspex is happy to be reinstated as an in-network frame provider. We are excited to offer Aspex’s top fashion and innovative technologies to VSP’s members through their extensive network of eye care professionals.”
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The Sacramento Business Journal has reported that VSP decided “to remove Aspex from its in-network provider list in 2010 after the Canadian eyewear company sued two VSP subsidiaries for patent infringement.”
Aspex then filed suit alleging “breach of contract, antitrust violations and unfair business practices” by VSP in connection with that decision, according to the Business Journal.
