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Technology Stocks : Corvis Corporation (CORV) -- Ignore unavailable to you. Want to Upgrade?

To: SemiBull who wrote (1631)	4/29/2003 7:19:46 PM
From: SemiBull	Respond to of 2772

Interim Verdict Received in Patent Litigation Tuesday April 29, 9:27 am ET COLUMBIA, Md., April 29 /PRNewswire-FirstCall/ -- Corvis Corporation (Nasdaq: CORV - News), a leading provider of intelligent optical networking solutions, announced today that an unfavorable interim verdict was reached by a jury in the U.S. Federal District Court of Delaware in its patent litigation with Ciena Corporation concerning U.S. Patent No. 5,504,609. "While this interim verdict was disappointing, there are a number of issues that still need to be determined by the court. With these issues still remaining, this interim verdict does not represent a definitive conclusion to the litigation," said Kim Larsen, Senior Vice President and General Counsel. The company indicated that the Court has not yet determined additional issues regarding whether certain products used in Corvis' WDM systems are infringing the patent. If the Court finds in Corvis' favor on these additional issues, the Court could overturn the jury's verdict. "We intend to continue to present our case in the courts because we believe our products have always been, and will continue to be, designed to respect the intellectual property rights of others, including Ciena," continued Mr. Larsen. The company believes that the question of whether an injunction preventing the sale of certain products is appropriate will not be addressed until after the Court decides these additional issues of infringement. The company plans to pursue further legal remedies including post trial motions and appeals, if necessary, which could to take up to one year or more. A trial to determine damages, if necessary, will be scheduled to take place following final appeals. About Corvis From point-to-point links to all-optical networks to transoceanic systems, Corvis Corporation delivers innovative optical network solutions that drive carrier profitability faster than any other vendor. Headquartered in Columbia, MD, Corvis provides carriers with scalable optical networking solutions and services that dramatically reduce the overall expenses associated with building and operating networks. Carriers deploying Corvis' optical network solutions can provision new wavelength-based services and tailor dynamic service-level agreements for rapid revenue generation. For more information about Corvis, please visit its Web site, www.corvis.com. Corvis and the Corvis logo are trademarks and/or service marks of the Corvis Corporation. All other trademarks are the property of their respective owners. Corvis Contact: Investor and Public Relations Andrew G. Backman (443) 259-4259 Fax: (443) 259-4427 investorinformation@corvis.com -------------------------------------------------------------------------------- Source: Corvis Corporation