STAAR SURGICAL SETTLES PATENT INFRINGEMENT SUIT; RAFI SYSTEMS CONSENTS TO JUDGMENT AND INJUNCTION
STAAR SURGICAL SETTLES PATENT INFRINGEMENT SUIT;
RAFI SYSTEMS CONSENTS TO JUDGMENT AND INJUNCTION
MONROVIA, Calif., Nov. 18 /PRNewswire/ -- STAAR Surgical Co. (NASDAQ: STAA) announced today settlement of a lawsuit it brought against Rafi Systems Inc. (Rafi) alleging patent infringement and violation of trade secrets by Rafi, a competitor based in Ontario, Calif., and two former STAAR employees then employed by Rafi.
In a signed court order Rafi and the former STAAR employees both acknowledged the validity of the STAAR foldable lens patents and agreed to be permanently enjoined from infringing or inducing others to infringe on the patents.
Other terms of the settlement were not disclosed. John R. Wolf, president and chief executive officer of STAAR, said, following the signing of the settlement agreement, "We are pleased with this result and hope that this outcome will be an added incentive to other competitors to not continually violate STAAR's patents. This represents the third successful defense of these patents, but at great expense of management time and financial resources. While we are required by contract to our legitimate licensees, to defend our patents, we will take an even more aggressive position vis-a-vis violators. We want to bring home the point that such violations of an authenticated set of patents cannot and will not be tolerated."
STAAR Surgical, based in Monrovia, is a publicly traded company founded in 1982, develops, manufacturers and markets products for small-incision surgery, primarily for use in cataract procedures.
/CONTACT: LaMar Laster, chairman and chief operating officer of STAAR Surgical, 818-303-7902; or Deborah Kazenelson of Hill & Knowlton, Inc., 213-937-7460, for STAAR Surgical/
(STAA) CO: STAAR Surgical Co.; Rafi Systems Inc. ST: California IN: MTC SU: KJ -- LA007 -- 1212 11/18/91 08:03 EST