BWAY - BrainsWay resolves unfair competition litigation with Neuronetics

• BrainsWay ( NASDAQ: BWAY ), a developer of non-invasive treatments for brain disorders, has settled an unfair competition litigation with medical technology company Neuronetics ( NASDAQ: STIM ).
• The litigation had been filed by STIM in the district of Delaware against BrainsWay and its U.S. unit.
• BrainsWay in a statement on Wednesday said it filed a motion to dismiss the case and, while that motion was pending, had also agreed to settle case on mutual terms without any admission of liability or wrongdoing.
• STIM in a separate statement said that under the terms of the settlement, BWAY has agreed to stop the use of the efficacy data for the treatment of anxious depression with STIM's NeuroStar Advanced Therapy for Mental Health.
• BWAY and STIM have agreed to keep the terms of the settlement agreement confidential.
• U.S.-listed shares of BWAY were unchanged after the opening bell, while STIM stock was +1.5% to $6.65.

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