MELVILLE, NY--(Marketwired - June 02, 2014) - CopyTele, Inc. ("CTI") (COPY), a company that protects the rights of inventors through patent monetization and patent assertion, today announced that its wholly owned subsidiary, J-Channel Industries Corporation, has prevailed in its efforts to prevent Home Depot U.S.A. Inc. and Silver Line Building Products LLC from removing its patent infringement lawsuit out of the Eastern District of Tennessee. Silver Line and Home Depot, originally sued by J-Channel Industries Corporation in the Eastern District of Tennessee, sought to circumvent the Tennessee Court by moving the lawsuit to the Eastern District of New York, where the defendants had filed for declaratory relief.
Robert Berman, CTI's President and CEO, stated, "Both the New York and Tennessee Court's have now put an end to the 'legal gamesmanship' attempted by these parties to delay and disrupt our infringement lawsuits. The integrated J-Channel has become a standard in the vinyl window industry. Instead of profiting from his invention, our inventor was forced out of business. Large companies such as these have made a lot of money from selling J-Channel windows, and we look forward to proceeding with our infringement lawsuits in the Eastern District of Tennessee and telling our story in Court."
J-Channel Industries has 20 patent infringement lawsuits pending in the Eastern District of Tennessee, and has entered into 7 license/settlement agreements in connection with its patented J-Channel Window Frame Construction technology.
About CopyTele, Inc.
CTI develops 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 meaning 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," "expects," "intends," "plans," "anticipates," "likely," "will" and similar expressions to identify forward-looking statements. Such forward-looking statements, including those concerning our expectations, 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.