Agreeing With Vicor, the Patent Trial and Appeals Board Rules That All Claims of a SynQor Patent Are Invalid
ANDOVER, MA--(Marketwired - May 12, 2015) - On May 5, 2015, the United States Patent and Trademark Office's Patent Trial and Appeals Board (PTAB) ruled that all claims of U.S. Patent No. 7,727,021 are invalid, thus affirming the Examiner's decision in a reexamination proceeding initiated by Vicor Corporation (NASDAQ: VICR). SynQor, Inc. has asserted U.S. Patent No. 7,727,021 against Vicor and Cisco Systems, Inc. in litigation currently pending in the U. S. District Court for the Eastern District of Texas. The May 5th PTAB decision follows a March 13th decision in which the Federal Circuit, reversing a prior decision of the PTAB, found that prior art invented by Dr. Robert L. Steigerwald anticipated key claims of a related patent, U.S. Patent No. 7,072,190. Citing to the Federal Circuit decision, and giving it substantial weight, the PTAB found that all claims of U.S. Patent No. 7,727,021 are also either anticipated by Steigerwald or obvious.
Commenting on the PTAB decision to invalidate U.S. Patent No. 7,727,021, Dr. Patrizio Vinciarelli, Vicor's Chief Executive Officer, stated, "SynQor's abuse of the patent system and its campaign to prevent competition from superior Vicor bus converters, known not to infringe, has now been dealt a second, decisive blow. On the heels of the Federal Circuit's earlier decision invalidating key claims of the '190 patent, the PTAB new ruling underscores the seminal role of Dr. Steigerwald's pioneering work in anticipating a second SynQor patent, the '021. The two remaining SynQor patents that have been asserted against Vicor -- patents based on the same technical disclosure as the '190 and '021 patents -- are equally bogus, and due to be invalidated."
Vicor has asserted counterclaims against SynQor for the damage caused by SynQor's abusive practices. In its counterclaims, Vicor seeks damages for SynQor's unfair and deceptive trade practices and its tortuous interference with Vicor's customer relationships. Vicor intends to hold SynQor and its agents accountable for the damage they have caused.
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statement in this press release that is not a statement of historical fact is a forward-looking statement, and, certain words and expressions identify forward-looking statements. These statements are based upon management's current expectations and estimates as to the prospective events and circumstances that may or may not be within the company's control and as to which there can be no assurance. Actual results could differ materially from those projected in the forward-looking statements as a result of various factors, including those economic, business, operational and financial considerations set forth in Vicor's Annual Report on Form 10-K for the year ended December 31, 2014, under Part I, Item I -- "Business," under Part I, Item 1A -- "Risk Factors," under Part I, Item 3 -- "Legal Proceedings," and under Part II, Item 7 -- "Management's Discussion and Analysis of Financial Condition and Results of Operations." The risk factors set forth in the Annual Report on Form 10-K may not be exhaustive. Therefore, the information contained in the Annual Report on Form 10-K should be read together with other reports and documents filed with the Securities and Exchange Commission from time to time, including Forms 10-Q, 8-K and 10-K, which may supplement, modify, supersede or update those risk factors. Vicor does not undertake any obligation to update any forward-looking statements as a result of future events or developments.
Vicor Corporation designs, develops, manufactures, and markets modular power components and complete power systems based upon a portfolio of patented technologies. Headquartered in Andover, Massachusetts, Vicor sells its products primarily to customers in the higher-performance, higher-power segments of the power systems market, including aerospace and defense electronics, enterprise and high performance computing, industrial equipment and automation, telecommunications and network infrastructure, and vehicles and transportation markets.
