Court of Appeals Affirms Judgment Ordering Mary Kay to Pay over $41 Million to TriStrata.United States Court of Appeals The United States courts of appeals (or circuit courts) are the intermediate appellate courts of the United States federal court system. A court of appeals decides appeals from the district courts within its federal judicial circuit, and in some instances from other Affirms TriStrata Judgment in Patent Infringement Case Won Against Mary Kay Inc. PRINCETON, N.J. -- TriStrata Technology, Inc. ("TTI TTI Texas Transportation Institute TTI Thoracic Trauma Index TTI Transmission Time Interval TTI Travel Time Index TTI Travel Technology Initiative TTI Technology Transfer Initiative TTI Traffic and Traveller Information TTI Technology Transfer Institute ") emerged victorious when the United States Court of Appeals yesterday affirmed the judgment TTI won in its patent infringement suit against Mary Kay Inc. in March 2005. Previously, a jury in the United States District Court United States District Court In the U.S., any of the 94 trial courts of general jurisdiction in the federal judicial system. Each state, as well as the District of Columbia and the Commonwealth of Puerto Rico, has at least one federal district court. in Wilmington, DE found that 14 claims of the three patents at issue were infringed and ordered Mary Kay to pay $26.4 million in back royalties to TTI. The interest on the back royalties will bring the total amount of the judgment to approximately $41.4 million. Interest continues to run on the final judgment amount until paid. The Court also permanently enjoined Mary Kay from infringing the three TTI patents. The appeal, which was argued yesterday, resulted in a "summary affirmance" by the United States Court of Appeals for the Federal Circuit The United States Court of Appeals for the Federal Circuit is a United States court of appeals. The Federal Circuit was created by Congress with passage of the Federal Courts Improvement Act of 1982. The court is headquartered in Washington, D.C., and occupies the Howard T. . This effectively terminates 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. in TTI's favor. TTI is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of NeoStrata Company, Inc., founded by Ruey J. Yu, O.M.D., Ph.D. and Eugene J. Van Scott, M.D., who are widely recognized as pioneers in alpha-hydroxy acid skin care technology and the inventors of more than 125 patents relating to alpha-hydroxy acids and other skin care technology. TTI's AHA skin care patents are licensed to 60 companies in the cosmetics and pharmaceutical industries. Mark D. Steele, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of NeoStrata Company attended the argument on Tuesday, remarked: "We are pleased with the Court of Appeals' affirmance of the final judgment, and the jury's validation of TTI's patents covering the pioneering discoveries made by Drs. Van Scott and Yu. We always strive for a business solution when faced with potential patent infringement cases, but TTI remains committed to the vigorous enforcement of its intellectual property when TTI's patented technology is being utilized without a license." TTI was represented by Michael V. Ciresi and Jan M. Conlin of Robins, Kaplan, Miller & Ciresi L.L.P. of Minneapolis, MN and by Kevin M. McGovern and Brian T. Foley of McGovern & Associates of New York, NY and Greenwich, CT. About NeoStrata([R]) NeoStrata Company, Inc. is a research-based dermatological company dedicated to the advancement of skin care and dermatological treatments. It is the medical community's internationally recognized leader in developing alpha-hydroxy, polyhydroxy and bionic A machine that is patterned after principles found in humans or nature; for example, robots. It also refers to artificial devices implanted into humans replacing or extending normal human functions. See biomimicry. acid technology and formulations. NeoStrata Company markets products in 60 countries around the world under the brands NeoStrata([R]), Exuviance[R], Exuviance([R]) Professional and CoverBlend([R]). NeoStrata has been ranked 17th in NJBIZ's top 50 biotechnology firms in the state of NJ. For more information, visit www.neostrata.com or call 1-800-225-9411. |
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