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A jury finds that certain Proxim products infringe two Symbol patents and assesses a 6% royalty on Proxim's sales of these products from 1995, for about $22M
September 15, 2003
SUNNYVALE, Calif. -- Proxim Corporation (Nasdaq: PROX) today announced that a jury had rendered a verdict in the first phase of Symbol Technologies, Inc.'s. patent suit with Proxim before the U.S. District Court for the District of Delaware. Proceedings on this matter will continue, with the court to conduct a bench trial on Proxim's remaining equitable defenses not addressed by the jury.
On Symbol Technologies' claims of patent infringement, the jury found that certain Proxim products infringe two Symbol Technologies patents and assessed a 6% royalty on Proxim's sales of these products from 1995. Proxim estimates that such royalty payments for past sales of these products would be approximately $22 million. Proxim has not been enjoined from continued sales of these products and royalty payments, if any, on these sales have not been determined by the court. In addition, Proxim does not incur any immediate financial obligation to Symbol Technologies as a result of this verdict, pending completion of related proceedings.
In an additional, related matter, a trial on Proxim's counterclaims, which allege that certain Symbol Technologies products infringe on a Proxim patent, is scheduled to commence in the U.S. District Court for the District of Delaware, before a different jury, on September 16, 2003.
Proxim intends to vigorously defend itself in this litigation and to consider all available options after the conclusion of all matters before the court.
Symbol Technologies Inc.
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