TCS Enters Into Patent Lawsuit Standstill Agreement With RIM
April 14 2008 - 1:30PM
Marketwired
ANNAPOLIS, MD (NASDAQ: TSYS), a leading provider of
mission-critical wireless communications, today announced it has
entered into a Standstill Agreement with Research In Motion Limited
(RIM) on April 11, 2008 and dismissed, without prejudice, its
patent infringement lawsuit against RIM pursuant to the Standstill
Agreement.
On December 20, 2007, TCS filed a lawsuit in the U.S. District
Court for the Eastern District of Virginia against RIM, seeking
damages for patent infringement of United States Patent No.
6,871,215 as well as an injunction against RIM from further
infringement.
The Standstill Agreement provides TCS and RIM additional time to
negotiate an amicable business resolution while suspending legal
proceedings temporarily. The standstill will remain in place until
at least June 12, 2008.
The case is TeleCommunication Systems, Inc. v. Research In
Motion Limited, Case No. 1:07cv1277(E.D. Va.).
About TeleCommunication Systems, Inc.
TeleCommunication Systems, Inc. (TCS) (NASDAQ: TSYS) produces
wireless data communications technology solutions that require
proven high levels of reliability. TCS provides wireless and VoIP
E9-1-1 network-based services, secure deployable communication
systems, engineered satellite-based services, and commercial
location applications, like traffic and navigation, using the
precise location of a wireless device. Customers include leading
wireless, cable MSOs, and VoIP carriers around the world, and
agencies of the U.S. Departments of Defense, State, and Homeland
Security. For more information, visit www.telecomsys.com.
Except for the historical information contained herein, this
news release contains forward-looking statements as defined within
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities and Exchange Act of 1934, as amended. These
statements are subject to risks and uncertainties and are based
upon TCS' current expectations and assumptions that if incorrect
would cause actual results to differ materially from those
anticipated. Risks include the possibility of counterclaims and
related unfavorable court decisions, the possibility that the costs
of litigation will exceed resulting recoveries (if any), and those
detailed from time to time in the Company's SEC reports, including
the report on Form 10-K for the year ended December 31, 2007.
Existing and prospective investors are cautioned not to place
undue reliance on these forward-looking statements, which speak
only as of the date hereof. The Company undertakes no obligation to
update or revise the information in this press release, whether as
a result of new information, future events or circumstances, or
otherwise.
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