CARLSBAD, Calif., January 8, 2015--Patriot Scientific Corporation (OTCQB: PTSC) announced today that it has settled all outstanding litigation with HTC Corporation.
Previously in litigation before the United States District Court for the Northern District of California, HTC was found to infringe multiple claims within Patriot’s US 5,809,336 patent. Subsequently HTC appealed the jury verdict with Patriot filing its own cross appeals.
The ‘336 patent is one of several patents that are part of a larger portfolio held by Patriot, known as the Moore Microprocessor Patent (MMP) Portfolio™. In addition to the jury verdict over HTC in U.S. District Court, the MMP Portfolio has survived seventeen re-examination challenges before the United States Patent and Trademark Office. Currently there are additional proceedings in U.S. District Court, alleging infringement of the MMP Portfolio™ against Barnes & Noble Inc., Garmin Ltd., Huawei Technologies Co. Ltd., LG Electronics, Nintendo Co. Ltd., Novatel Wireless Inc., Samsung Electronics Co. Ltd., and ZTE Corporation.
“We see this as yet another vindication for the ‘336 patent and should serve as a signal to the marketplace that infringers of the MMP Portfolio will be held accountable,” stated Cliff Flowers, Patriot’s Interim Chief Executive Officer. “We believe the MMP Portfolio™ has near universal applicability in microprocessor design and companies utilizing this technology should take note of our successes at the USPTO and in court.”
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 risk that current and additional licensing agents may not be successful in generating licensing revenues or in implementing the MMP licensing program, the risk that the recently filed actions and litigation strategy may not be successful, and the risks and uncertainties relating to the future of our MMP 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 annual report on Form 10-K for the year ended May 31, 2014 and the quarterly report on Form 10-Q for the period ended August 31, 2014. 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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