MELVILLE, NY--(Marketwired - February 10, 2014) - CopyTele, Inc. ("CTI") (COPY), a company that protects the rights of inventors through patent monetization and patent assertion, today announced that a date has been set for its arbitration hearing with AU Optronics Corp. The arbitration hearing is scheduled to start the week of November 10, 2014, in San Francisco, California. CTI is seeking over $270 million in damages in the case.
The arbitration hearing will include the presentation of evidence, including live testimony, to the panel of three arbitrators. Discovery for the arbitration, which includes co-defendant E Ink Holdings, has begun and will be completed in advance of the hearing.
Robert Berman, CTI's President and CEO stated, "As we previously announced, one of the benefits of arbitration is the speed in which matters are adjudicated. We are pleased that this matter is moving so quickly and are looking forward to presenting our case and benefiting from its outcome."
The AU Optronics dispute alleges breach of contract, fraud, conspiracy to monopolize, unfair business practices, antitrust, and other anti-competitive acts, all in connection with the attempted misappropriation of CopyTele's patented ePaper® Electrophoretic Display and Nano Field Emission Display technologies, which CTI spent years and millions of dollars to develop.
About CopyTele, Inc.
CTIdevelops and acquires patented technologies for the purposes of patent monetization and patent assertion. The company currently has 9 patent portfolios in the areas of Key Based Web Conferencing Encryption, Encrypted Cellular Communications, E-Paper® Electrophoretic Display, Nano Field Emission Display ("nFED"), Micro Electro Mechanical Systems Display ("MEMS"), Loyalty Conversion Systems, J-Channel Window Frame Construction, VPN Multicast Communications, and Internet Telephonic Gateway. Additional information is available at www.CTIpatents.com.
Forward-Looking Statements:Statements that are not historical fact may be considered forward-looking statements within the definition of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of historical facts, but rather reflect CopyTele's current expectations concerning future events and results. We generally use the words "believes," and similar expressions to identify forward-looking statements. Such forward-looking statements, including those concerning our belief relating to potential patent infringement, involve risks, uncertainties and other factors, some of which are beyond our control, which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. These risks, uncertainties and factors include, but are not limited to, those factors set forth in "Item 1A - Risk Factors" and other sections of our Annual Report on Form 10-K for the fiscal year ended October 31, 2013 as well as in our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. You are cautioned not to unduly rely on such forward-looking statements when evaluating the information presented in this press release.