They settled, and paid pennies for being able to continue the status quo. Given that the headline is journalistic malpractice at best; and you asking this question kinda proves that.
> While the agricultural manufacturing giant pointed out in a statement that this is no admission of wrongdoing
Welp, gotta sue again in the future, hopefully lobbied laws in place to prevent whatever forced them to settle by then!
> What’s the catch?
99m is a drop in the bucket. They were probably expecting more.
IANAL but my understanding with settlements is that It removes the possibility of the defendant risking a judgement of wrongdoing and causing more problems down the road, like having to fix their mistakes.
The market doesn't care. It is a big deal to some people here, but to the vast majority it doesn't change a thing (or doesn't seem to) and so the markets don't care.
There is a premium on risk reduction. I believe this is one of the reasons why companies like to incorporate in Delaware as the courts there are notoriously fast (I'm going off my memory of a Planet Money episode so could be wrong here).
Anticipating 10.01 years from now, when John Deere sends a new over the air update and the situation goes right back to where it was, with no one having access to their equipment.
The market expected a worst outcome ?
No, all US equities are up after the Iran ceasefire news.
You need to look at Deere stock after taking out the beta to the market.
There was a MoU between the American Farm Bureau and John Deere signed in 2023 that outlined right to repair. This consequently already altered Deere's business model with respect to IP and right to repair, and gave signals that a settlement was coming. In other words, the stock price already accounted for the change. Very few things catches stock prices by surprise in the long term.