SOURCE: Crossroads Systems
AUSTIN, TX--(Marketwired - Feb 18, 2014) - Crossroads Systems, Inc. (NASDAQ: CRDS), a global provider of data archive solutions, filed complaints today against Cisco Systems, Inc., NetApp, Inc., and Quantum Corp. in the federal district court in Austin, Texas, alleging infringement of U.S. Patents 6,425,035 and 7,934,041. Crossroads seeks monetary damages and injunctive relief. Crossroads asserts that each of these defendants have incorporated Crossroads' patented technology into their storage systems, including Cisco's MDS 9200 Series Switches, Cisco's MDS 9500 Series Directors with MDS 9000 18/4-Port Service Module, NetApp's E5400 Series Storage Arrays, and Quantum's StorNext QX-Series Storage Arrays.
The asserted patents cover technology that is fundamental to secure and efficient access to network storage systems. The asserted patents are part of Crossroads' '972 Patent Family. Since 2001, Crossroads has licensed the '972 Patent Family to more than 40 companies and received in excess of $60 million in license and settlement revenue.
"We have a responsibility to our shareholders to maximize the value of the millions of dollars we have invested in our intellectual property," said Richard K. Coleman, Jr., President and CEO at Crossroads Systems. "We use every means possible to avoid litigation, but when all other avenues are exhausted, we will aggressively pursue every company, regardless of size or industry position, that continues to use our patented technology without a license."
About Crossroads Systems
Crossroads Systems, Inc. (NASDAQ: CRDS) is a global provider of data archive solutions. Through the innovative use of new technologies, Crossroads delivers customer-driven solutions that enable proactive data security, advanced data archiving, optimized performance and significant cost-savings. Founded in 1996 and headquartered in Austin, TX, Crossroads has been awarded more than 100 patents and has been honored with numerous industry awards for data archiving, storage and protection. Visit www.crossroads.com.
Important Cautions Regarding Forward-Looking Statements
This press release includes forward-looking statements that relate to the business and future events or future performance of Crossroads Systems, Inc. and involve known and unknown risks, uncertainties and other factors that may cause its actual results, levels of activity, performance or achievements to differ materially from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Words such as, but not limited to, "believe," "expect," "anticipate," "estimate," "intend," "plan," "targets," "likely," "will," "would," "could," and similar expressions or phrases identify forward-looking statements. Forward-looking statements include, but are not limited to, statements about Crossroads Systems' ability to implement its business strategy, including the transition from a hardware storage company to a software solutions and services provider, its ability to expand its distribution channels, its ability to maintain or broaden relationships with existing distribution channels and strategic alliances and develop new industry relationships, the performance of third parties in its distribution channels and of its strategic alliances, uncertainties relating to product development and commercialization, the ability to obtain, maintain or protect patent and other proprietary intellectual property rights, technological change in its industry, market acceptance of its products and services, future capital requirements, regulatory actions or delays, competition in general and other factors that may cause actual results to be materially different from those described herein. Forward-looking statements in this press release are based on management's beliefs and opinions at the time the statements are made. Crossroads Systems does not intend, and undertakes no duty, to update this information to reflect future events or circumstances.
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