American Building Control Announces Settlement of Royalty Dispute Litigation.Business Editors LEWISVILLE, Texas--(BUSINESS WIRE)--April 28, 2003 American Building Control, Inc. (Nasdaq:ABCX) announces that it has reached a settlement with Mr. Jerold M. Forsberg with respect to a royalty dispute related to U.S. Patent No. RE 37,709 (the "Patent"). Under the terms of the Settlement Agreement, the Company and Mr. Forsberg will execute mutual releases and the 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. that Mr. Forsberg filed in Minnesota, and counterclaims filed by the Company, will be dismissed with prejudice. The Patent pertains to electronic monitoring and surveillance devices installed in public transportation vehicles, for the purpose of security and behavior modification behavior modification n. 1. The use of basic learning techniques, such as conditioning, biofeedback, reinforcement, or aversion therapy, to teach simple skills or alter undesirable behavior. 2. See behavior therapy. . Mr. Forsberg, the previous owner of the patent, had assigned as·sign tr.v. as·signed, as·sign·ing, as·signs 1. To set apart for a particular purpose; designate: assigned a day for the inspection. 2. the Patent to the Company in 1995. With the settlement, the Company remains the owner of the Patent, which was upheld and re-issued in 2002 after a complete re-examination RE-EXAMINATION. A second examination of a thing. A witness maybe reexamined, in a trial at law, in the discretion of the court, and this is seldom refused. In equity, it is a general rule that there can be no reexamination of a witness, after he has once signed his name to the deposition, . The Company is dedicated to developing its mobile video products based on the Patent. "Security in public transportation systems is a major concern of our society today," said Mr. Bryan C.W. Tate, the Chief Executive Officer and Chairman of the Board of the Company. "The settlement with Mr. Forsberg allows us to focus on capturing the opportunities in this growing area." The Company and Mr. Forsberg have also agreed to work together to enforce the Patent. Mr. Tate said, "American Building Control will aggressively pursue claims against infringers of the Patent and seek to maximize its value." About American Building Control, Inc. With headquarters located in the Dallas suburb suburb, a community in an outlying section of a city or, more commonly, a nearby, politically separate municipality with social and economic ties to the central city. In the 20th cent. of Lewisville, Texas Lewisville is a city in Denton County and Dallas County, Texas (USA). As of the 2000 census the city had a total population of 77,737. With strong population growth continuing into the new millennium, the U.S. Census Bureau gives a 2006 population estimate of 94,589. , American Building Control, Inc. (formerly Ultrak, Inc.) is focused on designing, marketing, selling and servicing niche security products for use in industrial, governmental and consumer surveillance markets worldwide. For more information on American Building Control please call 800/221-7225. Forward-Looking and Cautionary Statements Except for the historical information and discussions contained herein, certain statements included in this press release may constitute "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. " within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially, as discussed in the company's filings with the Securities and Exchange Commission. |
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