Covad Wins Summary Judgement Against Bell Atlantic Patent Lawsuit.Business Editors/High-Tech Writers SANTA CLARA, Calif.--(BUSINESS WIRE)--Feb. 22, 2000 Ruling Eliminates Another Barrier toward a Level Playing Field for Providing Broadband to Consumers Covad Communications (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 : COVD COVD College of Optometrists in Vision Development COVD Covad Communications Group (stock symbol) ), the leading national broadband services provider of high-speed Internet and network access utilizing Digital Subscriber Line See DSL. (communications, protocol) Digital Subscriber Line - (DSL, or Digital Subscriber Loop, xDSL - see below) A family of digital telecommunications protocols designed to allow high speed data communication over the existing copper telephone lines between end-users and (DSL DSL in full Digital Subscriber Line Broadband digital communications connection that operates over standard copper telephone wires. It requires a DSL modem, which splits transmissions into two frequency bands: the lower frequencies for voice (ordinary ) technology, today announced that it has prevailed in a patent lawsuit filed against it by Bell Atlantic. On February 18, 2000, Covad won a summary judgement ruling from the federal district court in Norfolk, Virginia, which rejected Bell Atlantic's lawsuit claiming that Covad infringed a Bell Atlantic patent and eliminated the suit prior to trial. The ruling is subject to appeal. "This judgement is an important step in the exercise of our right to offer consumers a competitive alternative to Bell Atlantic," said Dhruv Khanna, executive vice president, general counsel and one of the founders of Covad. "It is another win for consumers, and we are hopeful that Bell Atlantic will stop attempting to erect roadblocks in the way of competitors." Bell Atlantic filed this patent lawsuit against Covad last year approximately two weeks after Covad filed its antitrust and fraud law suit against Bell Atlantic in federal court in Washington, D.C. Covad's antitrust and fraud case remains active and pending. About Covad Covad Communications is the leading national broadband service provider An ISP, telephone company, cable company or other carrier that offers high-speed communications to homes and businesses, typically for Internet access. Cable modems, DSL and T1 lines are the common technologies. See broadband, cable modem, DSL and T1. of high-speed Internet and network access utilizing Digital Subscriber Line (DSL) technology. It offers DSL services through Internet Service Providers Internet service provider (ISP) Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. , telecommunications carriers, enterprises, PC OEMs and ASPs to small and medium-sized businesses and home users. Covad services are currently available across the United States in 62 of the top Metropolitan Statistical Areas (MSAs) and will be available in 100 MSAs by the end of 2000. At that time, Covad's network will reach more than 40 percent of all US homes and 45 percent of all US businesses. Covad Communications and its affiliates, doing business as Covad Communications Company, are wholly owned subsidiaries 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 Covad Communications Group, Inc. Corporate headquarters is located at 2330 Central Expressway, Santa Clara, CA, 95050. Telephone: 1-888-GO-COVAD. Web Site: www.covad.com. 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. Statement under 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 The statements contained in this release which are not historical facts may be deemed to contain forward-looking statements, including but not limited to statements regarding the intention to deploy our network in new and existing MSAs and the timing and breadth of coverage in each MSA (Metropolitan Service Area) An urban area with at least 50,000 people plus surrounding counties. There are 306 MSAs and 428 RSAs (rural service areas) in the U.S. MSAs and RSAs are used to allocate cellular licenses. , and our ability to provide multimedia content. Actual results may differ materially from those anticipated in any forward-looking statements as a result of certain risks and uncertainties, including, without limitation, the company's dependence on incumbent local exchange carriers for collocation, unbundled network elements, transport and other facilities, development of necessary technologies and operations, ability to manage growth of our operations, and the need to raise additional capital. For other risks and uncertainties applicable to our business refer to the Company's Securities and Exchange Commission filings. |
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