MELVILLE, NY--(Marketwired - July 09, 2013) - CopyTele, Inc. ("CTI") (OTCBB: COPY), a company specializing in patent monetization and patent assertion, today announced that its wholly owned subsidiary, Secure Web Conference Corporation, filed patent infringement lawsuits in the Federal District Court for the Eastern District of New York against Citrix Systems, Inc. (NASDAQ: CTXS), and Logitech International (NASDAQ: LOGI), in connection with their web conferencing services.
Citrix owns the popular GoToMeeting®, GoToWebinar®, and GoToTraining® web conference services, with reported annual sales from its Online Services division of $511 million for 2012. Logitech purchased web conference provider LifeSize Communications in 2010 for $379 million, and reported sales for LifeSize of approximately $148 million for the last reported fiscal year.
Robert Berman, CTI's President and CEO stated, "CTI invested a substantial amount of time and money developing our Key Based Encryption technologies, and these lawsuits are the next steps towards unlocking their significant, untapped value for our company."
The Citrix and Logitech lawsuits represent the second and third patent infringement lawsuits filed by CopyTele in connection with its Key Based Encryption assertion campaign, initially focusing on the $4 Billion web conferencing market. On May 1, 2013, the company filed a similar patent infringement lawsuit against Microsoft (NASDAQ: MSFT) in connection with its SKYPE web conference service.
About CopyTele, Inc.
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.