COURT OF APPEALS RULES AGAINST AMPEX IN SUIT AGAINST MITSUBISHI
REDWOOD CITY, Calif.--(BUSINESS WIRE)--Sept. 30, l998--Ampex Corp. (AMEX:AXC.A) today announced that the Court of Appeals for the Federal Circuit has issued an opinion affirming a lower court judgment which set aside a jury verdict in favor of Ampex.
As originally reported on April 10, l997 and June 18, l997, the jury in this case had found that Mitsubishi had infringed one of Ampex's patents in connection with the manufacturing of picture-in-picture television receivers, and awarded damages of $8.1 million.
Ampex appealed from the judgment of the District Court judge in favor of Mitsubishi, based on his ruling that the manner in which the jury had completed its verdict form subjected Ampex's charge of infringement to the defense of prosecution history estoppel. Ampex is reviewing the opinion of the Court of Appeals and is considering what action, if any, to take in view of this ruling.
This decision applies only to one of the company's patents, which
is used in picture-in-picture television sets. Ampex has asserted additional infringement claims against Mitsubishi with respect to infringement of Ampex patents in connection with various VCR products. No date has been set for a trial of these claims.
As previously disclosed, no income from the jury's earlier damage award has been recorded in the company's financial statements. Ampex Corp., headquartered in Redwood City, is one of the world's leading providers of technologies for the acquisition, storage and processing of visual information. Today, Ampex is delivering digital image solutions for large-scale corporate, government, network, entertainment and telecommunications applications.
During its more than 50-year history of innovation, Ampex has been granted thousands of patents and numerous awards for technical achievement. Ampex customers include such leading organizations as AT&T, Boeing, CNN, Mobil Oil, HBO, Time Warner and NASA.
Any statements contained herein that are not historical facts are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of l995, and involve risks and uncertainties. Information on potential factors which could affect the company's actual results of operations are included in its filings with the Securities and Exchange Commission, including but not limited to its Annual Report on Form 10-K for the fiscal year ended December 31, 1997, its Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, l998, and its Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, l998.
CONTACT: Ampex Corp.
Karen D. Schweikher, 650/367-4111 |
