CARLSBAD, Calif., September 28, 2015--Patriot Scientific Corporation (OTCQB: PTSC) announced today that it has agreed to stay all proceedings pending in the U.S. District Court for the Northern District of California, alleging infringement of the ‘336 patent against multiple defendants while Patriot presents objections to the District Court Judge to the recently issued claim construction report and recommendation by the U. S. Magistrate Judge. Patriot believes the report and recommendation, which are inconsistent with the claims construction issued by the same court in which a jury previously found infringement of the ‘336 patent against HTC Corporation, is in error. In conjunction with preparing to file its objections, Patriot has agreed to a stipulation of defendants’ non-infringement, limited to the recent claim construction. If the report and recommendations are adopted by the District Judge then Patriot plans to file an appeal with the United States Court of Appeal for the Federal Circuit. Patriot plans to continue to vigorously pursue its rights under the ‘336 patent and expects to pursue remedies in addition to the pending objection if required.
About Patriot Scientific Corporation
Headquartered in Carlsbad, California, Patriot Scientific Corporation is the co-owner of the Moore Microprocessor Patent Portfolio™. For more information on PTSC, visit www.ptsc.com.
About the MMP Portfolio™
The MMP Portfolio includes US patents as well as their European and Japanese counterparts, which cover techniques that enable higher performance and lower cost designs essential to consumer and commercial digital systems ranging from PCs, cell phones and portable music players to communications infrastructure, medical equipment and automobiles.
Safe Harbor Statement: Statements herein which are not purely historical, including statements regarding Patriot Scientific Corporation's intentions, hopes, beliefs, expectations, representations, projections, plans or predictions of the future are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements involve risks and uncertainties including, but not limited to, the risks and uncertainties relating to the future of our MMP joint-venture and the licensing and litigation strategies employed by the joint venture. It is important to note that the company's actual results could differ materially from those in any such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, risks and uncertainties associated with the effect of changing economic conditions, trends in the products markets, variations in the company's cash flow, market acceptance risks, patent litigation, technical development risks, and seasonality. Our business could be affected by a number of other factors, including the risk factors listed from time to time in the company's SEC reports including, but not limited to, the quarterly report on 10-K for the year ended May 31, 2015. The company cautions investors not to place undue reliance on the forward-looking statements contained herein. Patriot Scientific Corporation disclaims any obligation, and does not undertake to update or revise any forward-looking statements made herein.
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