SOURCE: ITUS Corporation

ITUS Corporation Logo

October 02, 2014 07:00 ET

ITUS Subsidiary Enters Into Settlement Agreement With Quaker Windows

MELVILLE, NY--(Marketwired - October 02, 2014) - ITUS Corporation ("ITUS") (OTCQB: ITUS), a company that builds and protects innovation, today announced that its wholly owned subsidiary, J-Channel Industries Corporation ("JCIC"), has entered into a license agreement with Quaker Window Products Co. Inc., in connection with JCIC's patented J-Channel Window Frame Construction technology. The Agreement resolves the patent infringement lawsuit filed against Quaker on October 9, 2013, which will be dismissed.

Robert Berman, ITUS's President and CEO stated, "This is the 6th J-Channel agreement that we have entered into this quarter, and we are very happy with the success we are having with this assertion campaign. Looking back over the past few months, we have had a steady stream of positive events and the momentum is continuing to build as we approach our November 10th trial date with AU Optronics." 

Of the original 27 companies that JCIC sued in connection with its J-Channel Window Frame Construction technology, 13 companies have now entered into license and/or settlement agreements. 

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™

Contact Information