Log in
Login
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Equities  >  AUSTRALIAN SECURITIES EXCHANGE LIMITED  >  Cochlear Limited    COH   AU000000COH5

End-of-day quote. End-of-day quote  - 05/05
111.61 AUD   -1.51%
04/28 COCHLEAR : Hosts Investor Day 28 April 2016
04/05 COCHLEAR : Debuts Online Resource for Parents of Kids with Hearing L..
04/01 COCHLEAR : Appendix 3Y - Rick Holliday-Smith
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Cochlear Limited : COH Jury Trial Verdict on USA Patent Infringement Case

share with twitter share with LinkedIn share with facebook
share via e-mail
0
01/24/2014 | 03:51am CEST
ASX RELEASE 24th January 2014 COCHLEAR LIMITED: JURY TRIAL VERDICT ON USA PATENT INFRINGEMENT CASE

Cochlear Limited, Sydney, 24th January 2014 (ASX:COH) today announced that a jury verdict in the patent infringement lawsuit by the Alfred E. Mann Foundation for Scientific Research ("AMF") and Advanced Bionics LLC ("AB") has been reached.
A jury in the United States District Court in Los Angeles, California found direct, contributory and wilful, but not induced infringement against Cochlear Limited and its USA subsidiary Cochlear Americas and awarded damages of US$131.2 million against Cochlear.
No judgment has been entered based on the verdict as important issues still remain to be decided by the Judge. These decisions may negate some of the findings of the jury and could alter the damages awarded by the jury.
Cochlear believes the facts and the law do not support the jury's findings and will seek to overturn the verdict in post-trial motions with the District Court and, if necessary, through the appeals process.
This lawsuit was disclosed to ASX when it was filed in December 2007. The verdict relates to two (2) United States patents on testing systems and methods for a cochlear implant. The patents were exclusively licenced by AMF to AB which is a competitor to Cochlear.
One of the patents expired in September 2009 and the other expires in March 2014. As a result, the verdict and any following judgment entered against Cochlear will not disrupt Cochlear's business or customers in the United States.
As at the date of this announcement, Cochlear had not accrued any liability in its financial statements for this verdict. In addition, Cochlear has not yet determined the impact, if any, on its financial statements.
Cochlear's Chief Executive Officer and President Dr Chris Roberts said, "We strongly disagree with the jury verdict and will appeal any judgment entered against Cochlear by the Court".
Ends
Company contacts:
Dr Chris Roberts, CEO/President p: + 61 2 9428 6555
Neville Mitchell, CFO
p: + 61 2 9428 6555

Page 1 of 1

distributed by
share with twitter share with LinkedIn share with facebook
share via e-mail
0
React to this article
Latest news on COCHLEAR LIMITED
04/28 COCHLEAR : Patent Issued for Implantable Component of a Hearing Prosthesis (USPT..
04/28 COCHLEAR : Hosts Investor Day 28 April 2016
04/21 COCHLEAR : Patent Issued for Sensitive Measurements in a Hearing Prosthesis (USP..
04/05 COCHLEAR : Debuts Online Resource for Parents of Kids with Hearing Loss
04/01 COCHLEAR : Appendix 3Y - Rick Holliday-Smith
03/31 COCHLEAR : Half Year Report 2016
03/26 COCHLEAR : launches next generation Wireless Mini Microphones
03/24 COCHLEAR : Announces FDA Clearance of the First Smart Bone Conduction Solution f..
03/10 COCHLEAR LIMITED : ex-dividend day for interim dividend
03/07 COCHLEAR : Appendix 3B
Advertisement
News chart
Full-screen chart
Income Statement Evolution
More Financials