Caliper Wins Trade Secret Theft Case Against Aclara: Jury Awards Caliper
More Than $52 Million in Damages
YAHOOOOOOOOOOO!!!!!
MOUNTAIN VIEW, Calif., Oct 27, 2000 /PRNewswire via COMTEX/ -- Caliper
Technologies Corp. (Nasdaq: CALP) announced that a jury has ruled in favor of
Caliper in its lawsuit charging trade secret misappropriation by Aclara
BioSciences (Nasdaq: ACLA). The jury returned a total award in the amount of
$52,568,000. This award includes $21,135,000 in damages for misappropriation of
trade secrets; $26,450,000 for unjust enrichment of Aclara; and $4,983,000 in
damages for conversion. Caliper's claims for an injunction on the issue of
misuse of trade secrets and other equitable remedies will be determined by the
court at a later date.
"We are deeply gratified by the court's decision and want to express our sincere
appreciation to the jury for their efforts in this complicated case," said Dan
Kisner, M.D., Caliper's President and Chief Executive Officer. "We feel that the
outcome of this trial is not only a victory for Caliper and our stockholders,
but for the legal system as well. Now that this issue is behind us, we look
forward to focusing our efforts on continuing to strengthen our leadership in
microfluidic technology and lab-on-a-chip products, delivering valuable products
to our customers and building long-term stockholder value."
This verdict in this case is separate from the ongoing litigation brought by
Caliper for infringement of the Ramsey patents, or the litigation brought by
Aclara against Caliper for infringement of Aclara's '015 patent. A Markman
hearing to construe the claims of the Ramsey patents is scheduled for November
20, 2000, with a likely trial date in mid 2001. A Markman hearing to construe
the claims of the '015 patent was held in June 2000. The court's ruling accepted
Caliper's interpretation of key terms in the patent claims. A summary judgement
hearing on this case was held on Friday, October 27, 2000, and a decision from
the judge is expected shortly. If the case is not resolved on summary judgement,
the trial is scheduled to take place in December 2000.
Caliper Technologies Corp. is a leader in lab-on-a-chip technology. Caliper
designs, manufactures, and commercializes LabChip(R) devices and systems that
enable experiments that ordinarily require laboratories full of equipment and
people to be conducted on a chip small enough to fit in the palm of a child's
hand. The chip contains a network of microscopic channels through which fluids
and chemicals are moved in order to perform the experiment. The LabChip(R)
systems are designed to streamline and accelerate laboratory experimentation and
have potential applicability in a broad range of industries including
pharmaceuticals, agriculture, chemicals and diagnostics. Caliper has established
multiple strategic and commercial alliances and has built a leading intellectual
property estate in microfluidic technology.
The foregoing discussion of the jury's decision in Caliper's trade secret
misappropriation case against Aclara involves risks and uncertainty, including
the risks: that Aclara may appeal the verdict, and, if they are successful, the
verdict could be overturned; that an appeal process could be lengthy and require
additional expense; that the damages award may be reduced by the judge; and that
the final damages award will be reduced by the amount equal to the settlement
received by Caliper in a related case. The statements regarding the timing of
future legal proceedings are forward-looking statements that involve risks and
uncertainties, including the risks that these proceedings may be postponed for a
variety of reasons, including the filing of additional motions by Caliper or
Aclara. These and other risks related to Caliper are detailed in Caliper's
Annual Report on Form 10-K filed with the SEC dated March 24, 2000.
NOTE: LabChip is a registered trademark of Caliper Technologies Corp.
SOURCE Caliper Technologies Corp. |
