MELVILLE, NY--(Marketwired - July 23, 2013) -
CopyTele, Inc. ("CTI") (OTCQB: COPY), a company specializing in patent monetization and patent assertion, today announced that the U.S. District Court for the Northern District of California has scheduled a Settlement Conference on September 9, 2013, in connection with CopyTele's ongoing lawsuit against AU Optronics Corp. and E Ink Holdings. The Settlement Conference, which must be attended by lead trial counsel, and representatives with unlimited settlement authority from CopyTele, AU Optronics, and E Ink, will be presided over by a United States Magistrate Judge.
The Settlement Conference is an informal process where the Magistrate Judge acts as a mediator in an attempt to compel the parties to resolve their differences. The Settlement Conference could be completed in as little as one day, or may take place over several days, depending on the Magistrate Judge and the parties.
Robert Berman, CTI's President and CEO stated, "Since taking over CTI as new management, this is our first opportunity to meet face to face with officials from AU Optronics and E Ink. Personal interaction plays an important part in resolving any dispute, and we are looking forward to starting the process."
As was previously announced, CopyTele and AU Optronics agreed to resolve their disputes via arbitration, as opposed to a trial in the U.S. District Court for the Northern District of California. The U.S. District Court recently ordered E Ink to participate in the arbitration, for discovery purposes. CopyTele's lawsuit against AU Optronics and E Ink alleges breach of contract, fraud, conspiracy to monopolize, unfair business practices, antitrust, and other anti-competitive acts, and seeks punitive and treble damages, all in connection with the attempted misappropriation of CopyTele's ePaper® Electrophoretic Display and Nano Field Emission Display technologies.
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.