AirBoss of America Corp. - Judgement Received On Railpads.Business Editors TORONTO--(BUSINESS WIRE)--Nov. 29, 2001 Pursuant to a summary judgment issued by the United States District Court for the Western District of Missouri The United States District Court for the Western District of Missouri is the federal judicial district encompassing 66 counties in the western half of the State of Missouri. The Court is based in the Charles Evans Whittaker Courthouse in Kansas City. , damages of approximately $3.0 million U.S. have been awarded against AirBoss for patent infringement patent infringement n. the manufacture and/or use of an invention or improvement for which someone else owns a patent issued by the government, without obtaining permission of the owner of the patent by contract, license or waiver. . In addition, an injunction has been granted preventing AirBoss from manufacturing a three-part railway pad. This decision is a reversal of an earlier decision dismissing the matter in favour of AirBoss. During the most recent process AirBoss was prevented from presenting its evidence concerning the validity of the patent in question and other matters germane ger·mane adj. Being both pertinent and fitting. See Synonyms at relevant. [Middle English germain, having the same parents, closely connected; see german2. to the case. Prior to producing this product several independent legal opinions were obtained that our product was not infringing on any patents. It is AirBoss' intention to immediately appeal what it, and its counsel, feel is an incorrect judgment and seek an immediate stay of the injunction. A bond will be posted for the amount of the damages pending the outcome of the appeal. This product represents approximately 6.6% of year to date sales. In the interim AirBoss expects to sell increased quantities of other rail fastening products. AirBoss is a manufacturer of rubber and plastic products specializing in parts for the transportation industry. AirBoss is also one of North America's largest rubber mixing companies specializing in custom rubber mixing and compound development. AirBoss is listed on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. under the symbol BOS. Contact - R.L. Hagerman, President (416) 368-2677 AIRBOSS FORWARD LOOKING STATEMENT DISCLAIMER This report contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. which reflect management's best judgement based on factors currently known but involve significant risks and uncertainties. Actual results could differ materially from those anticipated in these forward-looking statements as a result of a number of factors, including but not limited to risks more fully described in the "Risk factors" section of the Company's Annual Report, and other risks detailed in filings with the Ontario Securities Commission The Ontario Securities Commission (OSC) is a regulatory agency which administers and enforces securities legislation in the Canadian province of Ontario. The OSC is an Ontario Crown corporation which reports to the Ontario legislature through the Minister of Finance. . Forward-looking information provided pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. established by recent securities legislation should be evaluated in the context of these factors. |
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