Court Grants Injunction in Odetics' Infringement Case Against StorageTek; Denies request for stay.ANAHEIM, Calif.--(BUSINESS WIRE)--June 9, 1998--Odetics, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ODETA) (NASDAQ:ODETB) today announced that it has received a ruling from the US District Court in the case of Odetics vs. Storage Technology Corporation, et al, which enjoins StorageTek by injunction from any future making, selling or using of any infringing devices including the ACS (Asynchronous Communications Server) See network access server. 4400, PowderHorn, Wolfcreek and Genesis automated tape library systems which include a pass through port. The injunction also prohibits the manufacture and sale of any device, while not itself infringing, whose sale by StorageTek to a customer would constitute contributory infringement Contributory infringement may refer to:
Electra incited brother, Orestes, to kill their mother and her lover. [Gk. Myth.: Zimmerman, 92; Gk. Lit.: Electra, Orestes] Hezekiah exhorts Judah to stand fast against Assyrians. [O.T. of infringement by StorageTek. In addition, StorageTek was ordered to provide for a bond consistent with the jury's verdict and the requirements of the relevant Federal Rules of civil procedure The Federal Rules of Civil Procedure (FRCP) are rules governing civil procedure in United States district (federal) courts, that is, court procedures for civil suits. The FRCP are promulgated by the United States Supreme Court pursuant to the Rules Enabling Act, and then approved . StorageTek's motion to stay the injunction was denied. A hearing has been set for Wednesday, July 1, 1998 at 2:00 p.m. EDT EDT abbr. Eastern Daylight Time EDT Eastern Daylight Time EDT n abbr (US) (= Eastern Daylight Time) → hora de verano de Nueva York EDT to consider the form of the final injunction Noun 1. final injunction - injunction issued on completion of a trial permanent injunction cease and desist order, enjoining, enjoinment, injunction - (law) a judicial remedy issued in order to prohibit a party from doing or continuing to do a certain and, as a result of the jury's verdict of willfulness against StorageTek, to consider damages for the period preceding the June 29, 1995 filing date of the original lawsuit. StorageTek's infringing products were available as early as 1988. Previously, the jury awarded damages of $70.6 million to Odetics for the period extending from the date the case was initially filed, June 29, 1995, to the verdict date of March 27, 1998. This figure was based on a 4 percent of sales running royalty rate. Other matters discussed in the case included the court's denial of Odetics' motions for additional injunctive relief injunctive relief n. a court-ordered act or prohibition against an act or condition which has been requested, and sometimes granted, in a petition to the court for an injunction. . No ruling has yet been made on enhancement of damages against StorageTek for willful infringement. Odetics, Inc. is a leading supplier of communications equipment for the television broadcast, video security, telecommunications and intelligent traffic solutions markets. Odetics' headquarters are located in Anaheim, Calif., with additional operations in Europe and Asia. For more information about Odetics, its subsidiaries and divisions, please refer to the Odetics web site at http://www.odetics.com IMPORTANT NOTICE: This news release contains statements which may be deemed to be forward looking. Actual results could differ materially from those projected in the 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. as a result of risk factors such as: short product lives, technological shifts, current technical issues that cannot be resolved on a timely basis, component availability, competition (including new and directly competitive products from others), pricing pressures, incorrect assumptions regarding market demand, the significant uncertainty of market acceptance of new products by both distributors and end-user customers, and the inability of the Company to execute its incubator strategy including the completion of initial public offerings of its subsidiaries. Investors are strongly encouraged to review the risk factors set forth in the company's last filed Forms 10-K and 10-Q. CONTACT: Odetics Gregory Miner, 714/774-5000 http://www.odetics.com |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion