Acres Gaming Files Wheel of Gold Patent and Intellectual Property Claims.Acres Gaming Alleges Fraud and Wrongful Use of Intellectual Property Against Anchor Gaming and Claims Co-Ownership of Secondary Bonus Patents CORVALLIS, Ore.--(BUSINESS WIRE)--April 14, 1999-- Acres Gaming (Nasdaq:AGAM AGAM Ambiente Gas Acqua Monza SpA (Italian) ) today announced that it has filed suit in Benton County Oregon against Anchor Gaming (Nasdaq:SLOT) and Spin for Cash Wide Area Progressive Joint Venture, Anchor's partnership with International Game Technology (NYSE NYSE See: New York Stock Exchange :IGT IGT impaired glucose tolerance. ). The suit alleges that Anchor wrongfully used Acres' intellectual property to obtain patents without the consent of Acres, that the filing of the patent applications was fraudulently concealed from Acres, that Anchor was unjustly enriched by retaining the benefits of Acres' technology without compensating Acres and that Anchor breached fiduciary duties owed to Acres. Acres seeks $40 million in compensatory damages A sum of money awarded in a civil action by a court to indemnify a person for the particular loss, detriment, or injury suffered as a result of the unlawful conduct of another. and three times that amount in punitive damages Monetary compensation awarded to an injured party that goes beyond that which is necessary to compensate the individual for losses and that is intended to punish the wrongdoer. . In United States District Court for the District of Nevada The United States District Court for the District of Nevada is the Federal district court whose jurisdiction is the state of Nevada. The court has locations in Las Vegas and Reno. , Acres Gaming filed claims against Anchor and its joint venture to establish Acres Gaming's ownership or co-ownership of certain patents relating to secondary event gaming machines, such as Wheel of Gold(TM) and Wheel of Fortune(TM), that Anchor has claimed Acres infringes. Acres is confident that its products do not infringe the patents and has denied Anchor's claims of infringement and breach of contract. Acres Gaming provides products and services to casinos worldwide using its proprietary Acres Bonusing(TM) to increase player enjoyment and casino efficiency and profitability. The company has offices in Corvallis and Las Vegas. The discussion in this press release regarding litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. contains forward-looking statements (as defined in Section 27A of the Securities Act of 1993, as amended). Forward-looking statements involve risks and uncertainties. The following factors, among others, could cause actual results to differ from those indicated in the forward-looking statements: changes in federal or state laws or the administration of such laws, the expense and unpredictability of litigation and other risks detailed from time to time in the company's SEC reports including the report on Form 10-K for the year ended June 30, 1998. Actual results may differ materially from the forward-looking statements. |
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