The terms of the settlement are confidential, but Hoefler and Frere-Jones say their dispute over ownership of the Hoefler & Frere-Jones type foundry has now been “resolved”.
The settlement follows a lawsuit filed at the start of the year by Frere-Jones, in which he claimed that Hoefler had promised him a 50 per cent stake in the company, which he then failed to deliver.
The claim – made to the Supreme Court of the State of New York – was based on a verbal agreement Frere-Jones says was made between the pair in 1999 to become equal partners in the foundry.
Since the claim was made, Hoefler and Frere-Jones have parted ways, with Frere-Jones leaving the company, which now goes under the name Hoefler & Co.
Frere-Jones, meanwhile, has announced plans to set up his own type design practice next year.
Hoefler says: “We’re pleased with the resolution, and I look forward to continuing the work that our company has always been known for.”
Frere-Jones says: “I’m glad we’ve resolved our disagreement. I’m eager to return to design work and to launch my own type design practice in the new year.”