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U.S. Federal Court of Appeals Rules in Favor of ImmersionImmersion Corporation (NASDAQ:IMMR), the leading developer and licensor of touch feedback technology, today announced that the United States Court of Appeals for the Federal Circuit issued a unanimous ruling reversing a decision by the District Court for the District of Delaware invalidating three of Immersion's patents in a patent infringement lawsuit brought by Immersion against HTC (News - Alert). The litigation was initiated based on HTC's various uses of haptic effects in its mobile devices, sometimes referred to as Basic Haptics. Immersion and HTC entered into a settlement and license agreement in March 2015 and under that agreement, HTC will pay an additional undisclosed amount of compensation as a result of the reversal. This additional payment is not expected to have a material impact on Immersion's financial results. "We were surprised at how quickly the court ruled and are pleased to have these three Basic Haptics patents back in our portfolio. Our Basic Haptics family of patents has now been thoroughly tested by both litigation and reexamination by the courts and the US Patent and Trademark Office," said Amie Peters, General Counsel and Senior Vice President of Immersion. "This speaks to the strength and depth of our haptics portfolio and the soundness of our strategy." "We will continue to pursue our hybrid strategy of offering software solutions and rights to our patents across multiple markets," said Vic Viegas, Chief Executive Officer and President of Immersion. "We expect this ruling to have an impact not just on our efforts in the mobile market, but on all markets that utilize touchscreen technology. We are pleased that the Federal Circuit has respected our years of innovative effort in creating foundational haptic technology and we remain steadfast in securing the proper value for our intellectual property." About Immersion (www.immersion.com) Founded in 1993, Immersion (NASDAQ:IMMR) is the leading innovatorin haptic technology; the company's touch feedback solutions deliver a more compelling sense of the digital world. Using Immersion's high-fidelity haptic systems, partners can transform user experiences with unique and customizable touch feedback effects; excite the senses in games, videos and music; restore "mechanical" feel by providing intuitive and unmistakable confirmation; improve safety by reducing distractions while driving; provide realistic touch feedback when performing robotic medical procedures and training simulations; and expand usability when audio and visual feedback are ineffective. Immersion's TouchSense technology provides haptics in mobile phone, automotive, gaming, medical, and consumer electronics products from world-class companies. With over 2,300 issued or pending patents in the U.S., China and other countries, Immersion helps bring the digital universe to life. Hear what we have to say at blog.immersion.com. Forward-looking Statements This press release contains "forward-looking statements" that involve risks and uncertainties, as well as assumptions that, if they never materialize or prove incorrect, could cause the results of Immersion Corporation and its consolidated subsidiaries to differ materially from those expressed or implied by such forward-looking statements. All statements, other than the statements of historical fact, are statements that may be deemed forward-looking statements, including, but not limited to, the statement that the additional payment is not expected to have a material impact on Immersion's financial results, the statement that the ruling speaks to the strength and depth of our haptics portfolio and the soundness of our strategy, the statement that we will continue to pursue our hybrid strategy, and the statement that we expect this ruling to have an impact not just on our efforts in the mobile market, but on all markets that utilize touchscreen technology. Immersion's actual results might differ materially from those stated or implied by such forward-looking statements due to risks and uncertainties associated with Immersion's business, which include, but are not limited to: unanticipated difficulties and challenges encountered in licensing Immersion's patents, unanticipated difficulties and challenges encountered in product development efforts by Immersion and its licensees; unanticipated difficulties and challenges encountered in implementation efforts by Immersion's licensees; adverse outcomes in any future intellectual property-related litigation and the costs related thereto; the effects of the current macroeconomic climate; delay in or failure to achieve commercial demand for Immersion's products or third party products incorporating Immersion's technologies; and a delay in or failure to achieve the acceptance of touch feedback as a critical user experience. Many of these risks and uncertainties are beyond the control of Immersion. For a more detailed discussion of these factors, and other factors that could cause actual results to vary materially, interested parties should review the risk factors listed in Immersion's most current Form 10-K and Form 10-Q, both of which are on file with the U.S. Securities and Exchange Commission. The forward-looking statements in this press release reflect Immersion's beliefs and predictions as of the date of this release. Immersion disclaims any obligation to update these forward-looking statements as a result of financial, business, or any other developments occurring after the date of this release. Immersion, the Immersion logo and TouchSense are trademarks of Immersion Corporation in the United States and other countries. All other trademarks are the property of their respective owners. (IMMR - C) View source version on businesswire.com: http://www.businesswire.com/news/home/20160621006581/en/ |
