Riivet, Inc., Braun Holdings, Inc. d/b/a X.CELERATED, and Barry Braun are jointly announcing they have reached a confidential settlement agreement during a private mediation concerning a civil lawsuit filed in Wake County Superior Court, North Carolina, seeking a judicial dissolution of partnership and an accounting of the partnership assets.

Riivet, Inc., formerly known as Motorstats LLC, began a partnership with Braun and X.CELERATED in 2009, and together operated,,,, and other various brands used for broadcasting and the promotion of motorsports. However, as a result of the settlement, the partnership has been terminated and the parties are no longer conducting business together.

No party has admitted any wrongdoing or liability and there has not been any court finding as to the merits of the lawsuit.