INSIGNIA SYSTEMS, INC. ANNOUNCES LAWSUIT BY HALLMARK PAPER, INC.
MINNEAPOLIS, Dec. 23 /PRNewswire/ -- Insignia Systems, Inc. (NASDAQ: ISIG) announced today that it was sued yesterday in Federal Court in Minnesota by Hallmark Paper, Inc., a small local paper supplier that recently commenced business. There is no connection between Hallmark Paper, Inc. and the nationally known Hallmark card company. The lawsuit alleges various violations of federal and state antitrust and trade practice laws by Insignia and alleges that the patent granted by the U.S. Patent and Trademark office to Insignia Systems, Inc. on its Impulse sign making systems is not valid. Insignia Systems believes that these allegations are groundless and are being made in retaliation for a suit previously brought by Insignia against Hallmark Paper, Inc. In that suit the court, on Dec. 11, 1992, after a hearing, issued a temporary restraining order prohibiting Hallmark Paper from using Insignia's customer list or information obtained from it. G.L. Hoffman, Insignia president and CEO stated, "We are confident of the validity of our patent and have not in any way violated the antitrust and trade practice laws. We do not intend to allow Hallmark Paper's lawsuit to prevent us from protecting our customer list and trade secrets." Insignia Systems, Inc. markets the Impulse sign system for use by retail merchants to quickly and easily produce high quality signs of varying sizes in their stores. -0- 12/23/92 /CONTACT: John A. Fahlberg, EVP-finance and CFO of Insignia Systems, 612-930-8200/ (ISIG)
CO: Insignia Systems, Inc.; Hallmark Paper, Inc. ST: Minnesota IN: SU:
KW -- NY067 -- 9766 12/23/92 18:36 EST
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|Date:||Dec 23, 1992|
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