Presstek settles several legal disputes
Thursday, May 29, 2008
Press release from the issuing companyHUDSON – (May 28, 2008) Presstek Inc. has settled several long-standing legal disputes, primarily involving infringements of the company's patents, the company said yesterday.
"We are pleased to put these significant legal matters in our rear-view mirror," James R. Van Horn, Presstek's general counsel and secretary, said in a statement.
Settlements were announced resolving the following disputes:
--A lawsuit Presstek filed in 2005 in U.S. District Court in Concord against Creo Inc. and Creo Americas Inc. alleging patent infringement. Presstek claimed that Creo distributed a product that violates a Presstek U.S. patent. Creo was subsequently acquired by Eastman Kodak Co. Financial terms were undisclosed.
--A suit Presstek filed in 2003 in the District Court of Mannheim, Germany, against Fuji Photo Film Corp. Ltd. alleging patent infringement. Presstek claimed Fuji manufactured and distributed a product that violates a Presstek European patent registered with the German Patent and Trademark Office. Financial terms were undisclosed.
--An arbitration proceeding filed against Presstek in 2005 in the International Centre for Dispute Resolution. Reda National Co. alleged Presstek breached a distributor agreement relating to the Middle East. Presstek agreed to pay Reda approximately $800,000 in damages.
Presstek said in a press release it has previously provided adequate reserves for the payment.
Presstek said it also reached a settlement with one major distributor in the company's patent and trademark infringement action against VIM Technologies Ltd. and others in the International Trade Commission.
Ohio Graphco Inc., a U.S.-based distributor of VIM products, has agreed, under a consent order, not to import or sell any of VIM's printing plates that are the subject of the infringement claims, according to a press release.
Graphco has also agreed to cooperate in the ITC's investigation and will not challenge the ITC's conclusions, Presstek said.
Presstek Inc. makes and markets digital imaging products for graphic arts and laser imaging markets.
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