While the financial terms of the settlement have not been disclosed, Acuity will receive licences to a portion of Lynk Labs patent portfolio.
Lynk Labs originally filed in the US District Court of Illinois in 2015 against Juno Lighting Group, which was later acquired by Acuity, and Schnieder Electric for patent infringement and breach of contract.
Mike Miskin, chairman and CEO of Lynk Labs, said: "This is a significant achievement and winning milestone for Lynk and its shareholders."
"This settlement validates the value and contribution made by Lynk and our intellectual property in the LED industry."
He added: "Lynk has invested millions of dollars in R&D that has enabled LEDs to be easily designed into, and used in LED replacement lamps such as T8 LED tubes, MR lamps, or lighting systems such as track lights, down lights and more, as well as powering LED lighting with high frequency AC sources such as electronic ballasts, transformers and inverters."