Judge Says Oakley ``Yes'' and Nike ``No,'' Again.FOOTHILL RANCH, Calif.--(BUSINESS WIRE)--June 14, 1999-- Oakley Inc. (NYSE NYSE See: New York Stock Exchange :OO) Monday announced that, in its patent infringement patent infringement n. the manufacture and/or use of an invention or improvement for which someone else owns a patent issued by the government, without obtaining permission of the owner of the patent by contract, license or waiver. lawsuit filed against Nike (NYSE:NKE NKE Nike, Inc. (stock symbol) NKE National Knowledge Exam (Canada) NKE NK2 Homeobox Factor-Binding Element NKE Northwest Kodály Educators NKE Network Kernel Extension ) on July 17, 1997, the Federal District Court for the Central District of California ruled that Nike has infringed the first of Oakley's XYZ XYZ interj. Informal Used to indicate to someone that the zipper of his or her pants is open. [ex(amine) y(our) z(ipper).] Optics(TM) patents. This ruling indicates that the infringement was so blatant that the issue need not wait until trial. Of the two motions for summary judgment decided by the court, the first ruling that Nike's RV8 and RV12 sunglass models infringe Oakley's XYZ Optics patents clearly validates the technology. The ruling also provides judicial confirmation of Oakley's assertion that Nike has improperly used Oakley's proprietary technology. The second Court ruling denied the fifth consecutive summary judgment motion Nike has made in its effort to invalidate the Oakley XYZ Optics patents. Conversely, the grant of Oakley's motion for a ruling of infringement is the fifth consecutive summary judgement Noun 1. summary judgement - a judgment rendered by the court prior to a verdict because no material issue of fact exists and one party or the other is entitled to a judgment as a matter of law decided in Oakley's favor. "These rulings are an important milestone for Oakley in our effort to prevent unscrupulous copying of our proprietary technology," said Jim Jannard, Oakley chairman. "We are elated with this victory as it not only sends a clear message to Nike, but also moves us one step closer to enforcing these key patents against other infringers whose behavior we intend to correct." Oakley's patented XYZ Optics technology optimizes the relationship between lens geometry and the as-worn orientation of the lens to the wearer's eye. With precise geometric correction along three axes, the resulting lens minimizes distortion for all angles of view. The wrapped and raked lens configurations maximize peripheral protection against sun, wind and hazards encountered by the active wearer. The Nike lawsuit is significant to an industry in which consumers are becoming more savvy and demanding eyewear with higher optical quality. Oakley has said that its fundamental XYZ Optics technology is the only method the company knows of that provides such an unparalleled level of optical quality in a wrapped and raked non-prescription dual lens design. Oakley continues to ward off other eyewear manufacturers and pursues legal remedies against attempts by competitors to incorporate this technology in their products. In June 1998, the company filed a complaint against Bausch & Lomb (NYSE:BOL BOL Bolivia (ISO Country code) BOL Books Online BOL Bole (SIL code, Nigeria) BOL Bill Of Lading BOL Beginning Of Line BOL Best Of Luck BOL Buzz Out Loud BOL Bruin Online BOL Beginning Of Life ) alleging that certain of Bausch & Lomb's sunglass product lines incorporate technology which infringes on Oakley's XYZ Optics patents, as well as its Iridium iridium (ĭrĭd`ēəm), metallic chemical element; symbol Ir; at. no. 77; at. wt. 192.22; m.p. about 2,410°C;; b.p. about 4,130°C;; sp. gr. 22.55 at 20°C;; valence +3 or +4. (R) lens coating A thin transparent coating applied to a surface of a lens element. patent. That lawsuit is currently in the early phase of 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. . Oakley. A world brand. This news release contains certain statements of a forward-looking nature. Such statements involve a number of risks and uncertainties that could cause actual results to differ materially from those projected, including risks related to the dependence on sales to Sunglass Hut; the ability to continue to develop and produce innovative new products and introduce them in a timely manner; the acceptance in the marketplace of new products; the ability to source raw materials at favorable prices to the company; currency fluctuation; and other risks outlined in the company's SEC filings, including but not limited to the Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended Dec. 31, 1998. The company undertakes no obligation to update this forward-looking information. |
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