Monday March 4, 12:43 pm Eastern Time
Press Release
SOURCE: E-data Corporation
E-data Corporation Announces Another Settlement and Shareholder Meeting
PORT WASHINGTON, N.Y.--(BUSINESS WIRE)--March 4, 2002--E-data Corporation announced today that it had agreed to a proposed settlement of the patent infringement lawsuit which it brought against Broderbund, one of the defendants in the ongoing patent infringement case, INTERACTIVE GIFT EXPRESS, INC. (now known as E-data Corp.), Plaintiff-Appellant, v. COMPUSERVE INCORPORATED, 'et al, in the Southern District of New York (SDNY).
``E-data is very pleased to announce this settlement. Now only five of the original ten defendants from the SDNY case remain. Broderbund and E-data have agreed that the details of this settlement agreement are to remain confidential,'' said Tibor T. Tallos, President of E-data Corporation.
``E-data Corporation, via a mailing of proxy materials to shareholders, also announced that the Company annual shareholder meeting will be held on March 6th at their Port Washington NY offices. In addition to voting for Board members and other items, the proxy material included a request for authorization for the Directors to re-incorporate the Company in Delaware. The Company also announced the engagement of the accounting firm of Marcum & Kligeman LLP (http://www.mkllp.com/nav.html ) to audit E-data's financials as a prelude to the Company filing a form 10-SB with the Securities Exchange Commission (SEC), so as to become a reporting Company,'' added Mr. Tallos.
About E-data Corporation: e-data.com
E-data Corporation (OTC Stock Symbol: EDTA), headquartered in Port Washington, NY, is the holder of U.S. Patent No. 4,528,643, entitled ``System for Reproducing Information in Material Objects at a Point of Sale Location,'' as well as corresponding Canadian, UK and European patents. Management believes that the patent, which relates to the digital distribution of content over the Internet, protects the basic building blocks for an emerging global market for music, books, films and other content distributed through the Internet, point of sale kiosk networks, and other devices and systems.
This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934, which involve known and unknown risks and uncertainties or other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Due to the uncertainties of the legal system and in any litigation, Management makes no guarantee regarding the outcome of any ongoing or future potential litigation. Forward-looking statements included in this news release are intended to qualify for the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Prospective investors are cautioned that forward-looking statements are not guarantees of future performance. Actual events or results may differ from the Company's expectations, which are subject to certain risks and uncertainties, including but not limited to protracted judicial proceedings, growth trends in e-commerce and the ability of the Company to finance its licensing, enforcement and marketing activities. |
