The Chairman of the NIR Group, Corey Ribotsky, explained that, “Litigation is a last resort for our family of funds. We are encouraged by the progress that Mr. Schmidt (CEO of Cyberlux) and the Cyberlux team have made and we support their efforts to develop Cyberlux’s business.”

Mark Schmidt, the Chief Executive Officer of Cyberlux remarked, “We are pleased to conclude the litigation. Cyberlux will now be able to devote its full resources to developing and marketing its state-of-the-art lighting solutions.”

Cyberlux is a major provider of LED lighting solutions and technologies.