SOURCE: ITUS Corporation

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September 18, 2014 07:00 ET

ITUS Announces Patent Infringement Lawsuit Against Apple

MELVILLE, NY--(Marketwired - September 18, 2014) - ITUS Corporation ("ITUS") (OTCQB: ITUS), a company that builds and protects innovation, today announced that its wholly owned subsidiary, Secure Web Conference Corporation ("SWCC"), filed a patent infringement lawsuit in the U.S. District Court for the Eastern District of New York against Apple Inc., in connection with SWCC's patented Key Based Web Conferencing Encryption technology. Apple's FaceTime video service debuted in 2010, and has been available via hundreds of millions of devices including iPhones (since the fourth generation iPhone), iPads (since the iPad 2), iPod Touches (since the fourth generation iPod), and all Macintosh desktop and laptop computers running OSX or later.

Robert Berman, ITUS's President and CEO stated, "Our company was a pioneer in developing and patenting encryption technologies that were originally used in devices sold to the U.S. military. We recognized the monetization potential of these patents when we joined the company, and this lawsuit is the next step in realizing that potential."

SWCC has already licensed the encryption patents to Logitech in connection with its LifeSize web conferencing service, and has a patent infringement lawsuit pending against Microsoft Corporation in connection with the SKYPE and Lync web conferencing services. A claims construction, or Markman hearing, in the Microsoft lawsuit is scheduled for September 23.

About ITUS Corporation

ITUS develops and acquires patented technologies for the purposes of patent monetization and patent assertion. The company currently has 10 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, Internet Telephonic Gateway, and Enhanced Auction Technologies. Additional information is available at www.ITUScorp.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 ITUS Corporation'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.

ITUS Corporation BUILDING & PROTECTING INNOVATION™

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