You remember this one? The largest ever patent decision against a foreign company in China? It’s been a while, so here’s a reminder (from Reuters):

France’s Schneider Electric lost a patent infringement lawsuit in China on Saturday and was ordered to pay 335 million yuan ($44.7 million) in damages, the official Xinhua news agency said.

The suit was brought in the eastern city of Wenzhou by Chint Group, China’s biggest maker of low-voltage electrical products. It accused the French electrical engineering group of selling products based on Chint’s technology.

Caijing is reporting that the two parties are heading for a settlement:

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Sorry, can’t find an English version of this (the entire Chinese article is linked above). Apparently there was supposed to be an announcement by the Zhejiang court this morning, so perhaps we’ll get some more details soon on whatever cash will be paid for the China case in addition to the “global settlements,” whatever that means.

Stay tuned.