MELVILLE, NY--(Marketwired - March 10, 2014) - CopyTele, Inc. ("CTI") (OTCQB: COPY), a company that protects the rights of inventors through patent monetization and patent assertion, today announced that its wholly owned subsidiary, J-Channel Industries Corporation, has entered into a license and settlement agreement with PGT Industries, Inc., the nation's leading manufacturer and supplier of residential impact-resistant windows and doors, in connection with CTI's patented J-Channel Window Frame Construction technology.
The license is the fifth license for the J-Channel Window Frame Construction technology, and resolves the patent infringement lawsuit filed against PGT Industries on October 9, 2013, which will be dismissed.
Estimates indicate that more than 10 million J-Channel windows are sold in the U.S. each year.
In total, CTI and its subsidiary companies have entered into 6 revenue producing licensing agreements, and currently have 35 active lawsuits across 5 patented technologies including E-Paper Electrophoretic Displays, Nano Field Emission Displays, Key Based Web Conferencing Encryption, J-Channel Window Frame Construction, and Loyalty Conversion Systems.
About CopyTele, Inc.
develops and acquires patented technologies for the purposes of patent monetization and patent assertion. The company currently has 9 patent portfolios in the areas of Key Based Web Conferencing Encryption, Encrypted Cellular Communications, E-Paper® Electrophoretic Display, Nano Field Emission Display ("nFED"), Micro Electro Mechanical Systems Display ("MEMS"), Loyalty Conversion Systems, J-Channel Window Frame Construction, VPN Multicast Communications, and Internet Telephonic Gateway. 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, 2013 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.