SOURCE: CopyTele, Inc.

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July 01, 2013 08:23 ET

CopyTele Agrees to Arbitrate Claims Against AU Optronics

MELVILLE, NY--(Marketwired - July 01, 2013) - CopyTele, Inc. ("CTI") (OTCBB: COPY), a company specializing in patent monetization and patent assertion, today announced that it has agreed to arbitrate claims asserted by CopyTele against AU Optronics in the lawsuit filed by CopyTele on January 28, 2013 in the District Court for the Northern District of California. The lawsuit, alleging breach of contract, fraud, conspiracy to monopolize, unfair business practices, antitrust, and other anti-competitive acts, seeks punitive and treble damages in connection with the attempted misappropriation of CopyTele's ePaper® Electrophoretic Display and Nano Field Emission Display technologies.

Robert Berman, CTI's President and CEO, stated, "Arbitration will enable CopyTele to seek the same level of damages and other relief that we would be entitled to in Court, via a process that should be faster and more efficient than the overcrowded Federal Court system. We are extremely confident that we will prevail on the merits, and believe that a faster adjudication is in the best interests of our company."

The proposed schedule for the ongoing arbitration proceedings is yet to be determined, as is the effect on co-defendant E Ink Holdings, which as of this time, has not agreed to be a part of the arbitration proceedings. E Ink's motion to be dismissed from the lawsuit has not yet been decided by the Court.

About CopyTele, Inc.
CopyTele develops and acquires patented technologies for the purposes of patent monetization and patent assertion. The company currently has 6 patent portfolios in the areas of Key Based Encryption, E-Paper® Electrophoretic Display, Nano Field Emission Display ("NFED"), Micro Electro Mechanical Systems Display ("MEMS"), Loyalty Point Conversion Systems, and Window Frame Construction. Additional information is available at www.CTIpatents.com.

Forward-Looking Statements: Statements that are not historical fact may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of historical facts, but rather reflect CopyTele's current expectations concerning future events and results. We generally use the words "believes," "expects," "intends," "plans," "anticipates," "likely," "will" and similar expressions to identify forward-looking statements. Such forward-looking statements, including those concerning our expectations, involve risks, uncertainties and other factors, some of which are beyond our control, which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. These risks, uncertainties and factors include, but are not limited to, those factors set forth in "Item 1A - Risk Factors" and other sections of our Annual Report on Form 10-K for the fiscal year ended October 31, 2012 as well as in our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. You are cautioned not to unduly rely on such forward-looking statements when evaluating the information presented in this press release.

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