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IRT CORP. CHARGES FOUR PI SYSTEMS WITH FRAUD, UNFAIR COMPETITION AND THEFT OF INTELLECTUAL PROPERTY

IRT CORP. CHARGES FOUR PI SYSTEMS WITH FRAUD, UNFAIR COMPETITION
 AND THEFT OF INTELLECTUAL PROPERTY
 SAN DIEGO, Oct. 9 /PRNewswire/ -- San Diego-based IRT Corp. (AMEX: IX), the leading developer, manufacturer and marketer of X-ray inspection and analysis systems, has filed a lawsuit seeking to enjoin fraudulent and deceptive business practices of and to recover certain patent assets and unspecified monetary damages from Four Pi Systems Corp., also headquartered in San Diego. The lawsuit came after a breakdown in settlement discussions and was triggered by Four Pi's recent threat of suit.
 The two companies had reached a settlement agreement three years ago after IRT was forced to initiate litigation against Four Pi for patent infringement and misappropriation of IRT intellectual property assets. IRT alleges that in September 1989 it was fraudulently induced to grant limited rights and releases to Four Pi with assurances from the latter company that it would limit its future activities and not compromise any additional property rights of IRT. IRT's new lawsuit charges that Four Pi misrepresented its plans in 1989, and that it then intended additional misuses and conversion of IRT's proprietary technology.
 IRT contends that it is the rightful owner of certain patents which were improperly procured by Four Pi in violation of the earlier settlement agreement. IRT also claims that the technologies on which these patents are based were stolen from IRT.
 Claims in IRT's complaint include a request for declaratory judgment, recision of the settlement agreement, fraud, unfair competition and tortious interference.
 -0- 10/9/92
 /CONTACT: Catherine A. Boyle of IRT Corp., 619-622-8813/
 (IX) CO: IRT Corp.; Four Pi Systems Corp. ST: California IN: CPR SU:


JB-KJ -- SD005 -- 8506 10/09/92 16:30 EDT
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Publication:PR Newswire
Date:Oct 9, 1992
Words:283
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