Kopin Corporation versus BlueRadios Inc. Update
April 23 2024 - 8:00AM
Business Wire
On Monday, April 22, 2024, a jury verdict was entered in the
U.S. District Court for the District of Colorado finding for the
plaintiff, BlueRadios, Inc. and awarding approximately $5.1 million
in damages as well as recommending $19.7 million in disgorgement
and exemplary damages. The Court will take that recommendation
under advisement and will rule on the final number after briefing
on the issues in the matter of BlueRadios, Inc. v. Kopin
Corporation, Inc.
“We are very disappointed in the outcome and do not believe the
findings were justified by the facts presented,” said Michael
Murray, Kopin’s Chief Executive Officer. “We are reviewing our
options at this time, including an appeal of any judgment that is
ultimately entered by the Court.”
About Kopin
Kopin Corporation is a leading developer and provider of
innovative display and optical technologies sold as critical
components and subassemblies for defense, industrial and consumer
products. Kopin's technology portfolio includes ultra-small
Active-Matrix Liquid Crystal displays (AMLCD), Liquid Crystal on
Silicon (LCOS) displays and Organic Light Emitting Diode (OLED)
displays, a variety of optics, and low-power ASICs. For more
information, please visit Kopin's website at www.kopin.com.
Forward-Looking Statements
Statements in this press release may be considered
“forward-looking statements” within the meaning of Section 27A of
the Securities Act of 1933, as amended (the “Securities Act”), and
Section 21E of the Securities Exchange Act of 1934, as amended (the
“Exchange Act”), which are subject to the safe harbor created by
such sections. Words such as “expects,” “believes,” “can,” “will,”
“estimates,” and variations of such words and similar expressions,
and the negatives thereof, are intended to identify such
forward-looking statements. We caution readers not to place undue
reliance on any such “forward-looking statements,” which speak only
as of the date made, and advise readers that these forward-looking
statements are not guarantees of future performance and involve
certain risks, uncertainties, estimates, and assumptions by us that
are difficult to predict. These forward-looking statements may
include statements with respect our options including an appeal of
any judgment. Various factors, some of which are beyond our
control, could cause actual results to differ materially from those
expressed in, or implied by, such forward-looking statements. All
such forward-looking statements, whether written or oral, and
whether made by us or on our behalf, are expressly qualified by
these cautionary statements and any other cautionary statements
that may accompany the forward-looking statements. In addition, we
disclaim any obligation to update any forward-looking statements to
reflect events or circumstances after the date of this press
release, except as may otherwise be required by the federal
securities laws. These forward-looking statements are only
predictions, subject to risks and uncertainties, and actual results
could differ materially from those discussed. Important factors
that could affect performance and cause results to differ
materially from management’s expectations are described in Part I,
Item 1A. Risk Factors; Part II, Item 7. Management’s Discussion and
Analysis of Financial Condition and Results of Operations; and
other parts of our Annual Report on Form 10-K for the fiscal year
ended December 30, 2023, or as updated from time to time our
Securities and Exchange Commission filings.
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version on businesswire.com: https://www.businesswire.com/news/home/20240423123870/en/
Richard Sneider, 508-870-5959 Treasurer and Chief
Financial Officer Richard_Sneider@kopin.com
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