Creo Triumphs in Agfa's Patent Lawsuit.VANCOUVER, British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography -- Creo 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 : CREO)(TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension : CRE CRE Commercial Real Estate CRE Corporate Real Estate CRE Commission for Racial Equality (Scotland) CRE CCD (Charge Coupled Device) and Readout Electronics CRE Camp Response Element ): - Agfa Patents Unenforceable Adj. 1. unenforceable - not enforceable; not capable of being brought about by compulsion; "an unenforceable law"; "unenforceable reforms" enforceable - capable of being enforced Due to Inequitable Conduct In United States patent law, patent holders must go to the federal courts to enforce their patent rights. Even if the patent is valid and infringed, these courts may exercise their equitable discretion not to enforce the patent if the patentee has engaged in inequitable conduct. - Agfa Intentionally Withheld Material Information Creo Inc. (TSX: CRE; NASDAQ: CREO) announced today that the U.S. District Court for the District of Massachusetts has ruled that six Agfa patents for computer-to-plate (CTP CTP (cytidine triphosphate): see cytosine. (1) (Computer-To-Plate) The production of printing plates directly from the computer without requiring film as an intermediate step. ) technology - which Agfa had asserted against Creo - are unenforceable due to acts of inequitable conduct. The ruling determined that Agfa failed to disclose known material information to the United States Patent and Trademark Office The United States Patent and Trademark Office (PTO or USPTO) is an agency in the United States Department of Commerce that provides patent protection to inventors and businesses for their inventions, and trademark registration for product and intellectual property - with the intent to deceive. Background to the Lawsuit Agfa originally applied for and received patents on multi-cassette plate loaders for its CTP devices. In 2000, Agfa launched the lawsuit, claiming that the design of the Creo CTP autoloaders infringed on Agfa's patents. In defence, Creo asserted that the patents were unenforceable because Agfa intentionally deceived the United States Patent and Trademark Office (USPTO USPTO abbr. United States Patent and Trademark Office ) when applying for and obtaining its patents. The Court's Ruling The Court ruled that Agfa's patent agents and engineers intentionally withheld material information and intentionally misrepresented the state of the prior art for multiple-cassette CTP systems. The ruling stated, "The inequitable conduct established by the evidence here was not incidental or sporadic, but thoroughgoing thor·ough·go·ing adj. 1. Very thorough; complete: thoroughgoing research. 2. Unmitigated; unqualified: a thoroughgoing villain. . It was not attributable to one or two rogue employees, but seems to have been consciously undertaken by the leading participants in the product development team in cooperation with the patent agents. What emerges is a corporate intention to obtain patent rights that the participants knew or feared could not be obtained if the USPTO were given the full knowledge of the existing prior art and similar industry information." The Court also ruled that this is an exceptional case, meaning that Creo is entitled to recover a portion of the attorneys' fees and expenditures associated with proving inequitable conduct by Agfa. "We are extremely pleased with this ruling as it supports what Creo has maintained all along. Agfa's patents would never have been issued had Agfa told the Patent Office the complete facts on the development of automated CTP technology. This is a victory for the entire industry as we have now eliminated these Agfa patents from the competitive landscape," said Amos Michelson, chief executive officer, Creo. This news release 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. within the meaning of 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. " provisions of the U.S. 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 are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include the following: (1) new markets and product introductions do not proceed as planned and may adversely affect future revenues; (2) technological changes or changes in the competitive environment may adversely affect the products, market share, revenues or margins of the business; and (3) changes in general economic, financial or business conditions may adversely affect the business or the markets in which it operates. These risks and uncertainties as well as other important risks and uncertainties are described under the caption "Certain Factors That May Affect Future Results" and elsewhere in our Annual Report for the fiscal year ended September 30, 2003, as filed with the U.S. Securities and Exchange Commission and which are incorporated herein by reference. We do not assume any obligation to update the forward-looking information contained in this news release. (C) 2004 Creo Inc. The Creo product names mentioned in this document are trademarks or service marks of Creo Inc. and may be registered in certain jurisdictions. Other company and brand, product and service names are for identification purposes only and may be trademarks or registered trademarks of their respective holders. Data subject to change without notice. About Creo Creo Inc. is a global company with key strengths in imaging and software technology. The leading provider of prepress systems, Creo helps over 25,000 customers worldwide adopt digital production methods which reduce costs, increase print quality and allow them to serve their customers more efficiently. Based on a solid foundation of intellectual property, Creo has an unmatched range of technology solutions that address the needs of commercial, publication, on demand, packaging, and newspaper printers, and creative professionals. Creo product lines include software and hardware for computer-to-plate imaging, systems for digital photography, scanning, and proofing, as well as printing plates and proofing media. Creo also supplies on-press imaging technology, components for digital presses, color servers and high-speed digital printers. Based in Vancouver, Canada, Creo employs more than 4,000 people and reported fiscal 2003 revenue of US$578 million. Creo trades on NASDAQ (CREO) and the TSX (CRE). www.creo.com |
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