In a brief 72-word statement, Giant said Weagle, the owner of DW-Link, has permanently dismissed all claims against Giant, ending the lawsuit.
Weagle filed the action in May 2013 claiming that Giant had breached a 2010 joint development agreement for a new suspension platform called G+ Technology. Weagle said Giant had infringed on three patents involving Giant's Maestro suspension system.
At the time, Giant had sent a note to dealers telling them they could continue selling Maestro-equipped mountain bikes without fear of the ongoing dispute.
The latest statement read in part, "DW-Link has withdrawn its claims of patent infringement and regrets bringing the litigation against Giant." Giant will continue to sell bikes equipped with the suspension system since it doesn't infringe on DW-Link patents, the statement said.
"Neither Giant nor DW-Link will have any further statements regarding the subject," it added.