AgJunction Files Patent Infringement and Breach of Contract Lawsuit Against Ag Leader Technology
SCOTTSDALE, Ariz., Nov. 17, 2020 (GLOBE NEWSWIRE) -- AgJunction Inc. (TSX: AJX), ("AgJunction" or the "Company"), has filed a patent infringement and breach of contract lawsuit in the U.S. District Court for the District of Arizona against Ag Leader Technology, Inc. (“Ag Leader”). The lawsuit alleges that Ag Leader products violate three of AgJunction’s patents related to automated machine control. The lawsuit further alleges that Ag Leader has breached the supply agreement between the companies.
"AgJunction holds a comprehensive steering and machine control IP portfolio which has been tested and enforced in multiple actions," said Bob Barjesteh, Executive Vice President and General Counsel of AgJunction. "These assets are vital to hands-free steering and autonomous functions and are critical components of our corporate strategy. After unsuccessful efforts over these last several months to negotiate a new supply agreement and resolve these alleged infringement issues out-of-court, we are left with no choice but to file this lawsuit against Ag Leader."
The lawsuit seeks monetary damages and an injunction to prevent Ag Leader from selling in the U.S. any products infringing AgJunction’s patented technology. Specifically named in the lawsuit are Ag Leader’s recently launched SteerCommand Z2 and SteadySteer systems.
AgJunction is committed to bringing new technologies and products to the market, along with protecting its products and partners by continuing to enforce its rights against unlicensed use.
In respect of the forward-looking information, AgJunction has provided such information in reliance on certain assumptions that it believes are reasonable at this time. Since forward-looking information addresses future events and conditions, such information by its very nature involves inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to the risks associated with the industries in which AgJunction operates; competition; inability to successfully introduce new technology and new products in a timely manner; legal claims made by or against the Company for the infringement of intellectual property and the outcome of such claims and other claims; negative conditions in general economic, agricultural and financial markets; and reduced demand for the Company's products. Readers are cautioned that the foregoing list of factors is not exhaustive.
Additional information on other factors that could affect the Company's operations or financial results, are included in reports of AgJunction on file with applicable securities regulatory authorities, including but not limited to, AgJunction's Annual Information Form which may be accessed on its SEDAR profile at www.sedar.com. The forward-looking information contained in this press release is made as of the date hereof and AgJunction undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
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