SOURCE: ITUS Corporation

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October 03, 2014 07:00 ET

ITUS Subsidiary Receives Claims Construction Ruling

MELVILLE, NY--(Marketwired - October 03, 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"), received a unfavorable ruling from the US District Court for the Eastern District of New York in its patent infringement lawsuit against Microsoft Corporation in connection with SWCC's patented Key Based Web Conferencing Encryption technology. In its claims construction ruling, the Court construed several key patent claim terms in a manner adverse to SWCC.

Robert Berman, ITUS's President and CEO stated, "I often tell investors that patent infringement lawsuits are highly technical and complicated, which is why so many decisions are over turned on appeal. I also emphasize that our business model is to diversify, so that we are not overly dependent on any one lawsuit. We have 17 other lawsuits across 4 patented technologies, and many more in the pipeline. Although we would have preferred the Court to rule in our favor, the end result is that we have plenty of lawsuits and patented technologies to sustain our business."

A claims construction hearing is part of a patent infringement lawsuit in which the Court gives meaning to certain patent claim terms that are in dispute. Appeals of claims construction orders are heard by the United States Court of Appeals for the Federal Circuit on a de novo basis, meaning without deference to the lower Court's decision. SWCC will evaluate its options for appeal to the Federal Circuit, and in the interim, will suspend lawsuits against Apple AT&T, and Citrix, which also rely on the language construed by the Court.

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.

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