Super Vision Announces Intention to Appeal Legal Fee and Summary Judgment Rulings
May 12 2006 - 4:00PM
Business Wire
Super Vision International, Inc. (NASDAQ:SUPVA)(Class A Common), a
world leader in solid-state LED and fiber optic lighting systems
and controls used in commercial, architectural, signage, swimming
pool and retail lighting applications, announced today that the
United States District Court for the District of Massachusetts has
granted Color Kinetics Incorporated (CLRK) motion requesting the
reimbursement for attorneys costs and fees in exchange for waiving
willful infringement and any and all rights to damages related to
its patents in its infringement case against the company. This
order and Color Kinetics' estimated $1.4 million in legal costs and
fees, which still need to be documented to the court, will be
appealed in conjunction with the overall appeal of the infringement
summary judgment issued by the same court back in August, 2005. "We
anticipated that the court might grant this motion and we have made
preparations accordingly," stated Mike Bauer, President/CEO of
Super Vision. "However, just as we stated back in August, we feel
strongly that there are numerous material facts and matters of law
and that when presented to the appellate level court, the summary
judgment and subsequent awarding of legal fees and costs will be
overturned. There is still a long way to go in the process and we
believe that Super Vision will ultimately prevail." Certain of the
above statements contained in this press release are
forward-looking statements that involve a number of risks and
uncertainties. Such forward-looking statements are within the
meaning of that term in Section 27A of the Securities Act of 1933
and Section 21E of the Securities Exchange Act of 1934. Reference
is made to Super Vision's filings under the Securities Exchange Act
for factors that could cause actual results to differ materially.
Super Vision undertakes no obligation to publicly update or revise
any forward-looking statements, whether as a result of new
information, future events, or otherwise. Readers are cautioned
that any such forward-looking statements are not guarantees of
future performance and involve risks and uncertainties, and that
actual results may differ materially from those indicated in the
forward-looking statements as a result of various factors. Readers
are cautioned not to place undue reliance on these forward-looking
statements.
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