JJSeabrook
18 years ago
FORG SETTLEMENT $20M..8K>>>>>>>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report:
(Date of earliest event reported)
April 26, 2007
FORGENT NETWORKS, INC.
(Exact name of registrant as specified in charter)
Delaware
0-20008
74-2415696
(State or other jurisdiction of incorporation or organization)
(Commission File Number)
(IRS Employer Identification No.)
108 Wild Basin Road
Austin, Texas 78746
(Address of principal executive offices and zip code)
(512) 437-2700
(Registrant’s telephone
number, including area code)
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions (see General Instruction A.2. below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425).
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12).
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)).
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)).
Section 1 — Registrant’s Business and Operations
Item 1.01 Entry into a Material Definitive Agreement.
In July 2005, Forgent Networks, Inc. (the “Registrant”) initiated litigation against 15 companies for infringement of U.S. Patent No. 6,285,746 (the “ ‘746 Patent”) in the United States District Court for the Eastern District of Texas (the “ ‘746 Litigation”), seeking injunctive relief against sales of infringing products and monetary damages, among other relief sought. The ‘746 Litigation is described in Note 9 to the Consolidated Financial Statements and Part II, Item 1 of the Registrant’s Form 10-Q for the quarter ended January 31, 2007.
Effective April 26, 2007, the Registrant has entered into settlement and license arrangements with nine of the defendants in the ‘746 Litigation: Cable One, Inc.; Charter Communications, Inc.; Comcast Corporation; Comcast STB Software DVR, LLC; Coxcom, Inc.; Digeo, Inc.; Motorola, Inc.; Scientific-Atlanta, Inc.; and Time Warner Cable, Inc. Under the arrangements, the Registrant granted the defendants a patent license and the defendants agreed to pay the Registrant a total of $20.0 million. Additionally, all parties agreed to release all claims against each other and the Registrant has no future obligations related to these settlements.
The Registrant continues to monitor the progress of the ‘746 Litigation with respect to the remaining defendants and the United States Patent and Trademark Office’s re-examination of the ‘746 Patent. The Registrant will vigorously defend the validity of its ‘746 Patent, as well as pursue any entities that violated its ‘746 Patent. Resolution of some or all of these matters could materially affect the Registrant’s business, future results of operations, financial position or cash flows in a particular period.
Pursuant to Instruction B.4 to Form 8-K and applicable regulations and releases, copies of documents related to the foregoing matters reported under Item 1.01 will be filed as an exhibit or exhibits not later than the Registrant’s quarterly report on Form 10-Q applicable to the quarter ending April 30, 2007. All summaries and descriptions of documents set forth above are qualified in their entirety by the documents themselves, filed as an exhibit or exhibits to a later report.
2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
FORGENT NETWORKS, INC.
Date: April 26, 2007
By:
/s/ Jay C. Peterson
Jay C. Peterson
Chief Financial Officer
3
RagingStocks
18 years ago
Court Issues '746 Patent Claims Construction Ruling
Feb 21, 2007 09:01:34 (ET)
AUSTIN, TX, Feb 21, 2007 (MARKET WIRE via COMTEX) -- Forgent(TM) Networks (FORG, Trade ) -- On Friday, February 16, 2007, the US District Court for the Eastern District of Texas, Tyler Division, issued a claims construction ruling in the 6,285,746 patent ("'746 patent") litigation. Additionally, the court denied Defendant Echostar Technologies Corporation's motion for summary judgment for invalidity due to indefiniteness. "We continue to believe in the strength and value of the '746 patent and we are pleased that this litigation remains on track for a May 2007 trial," commented Richard Snyder, CEO and Chairman of Forgent Networks, Inc.
About Forgent
Forgent(TM) Networks (FORG, Trade ) develops and licenses intellectual property and provides scheduling and asset management software to a wide variety of organizations. Forgent's intellectual property licensing program is related to communication technologies developed from its patent portfolio. Forgent's software division, NetSimplicity, develops software that simplifies day-to-day office administration tasks. The products are specifically designed for the management and scheduling of rooms, equipment, assets and resources. For additional information please visit www.forgent.com .
Safe Harbor
This release may include projections and other forward-looking statements that involve a number of risks and uncertainties, and actual results in future periods may differ materially from those currently expected. Some of the factors that could cause actual results to differ materially include changes in the general economy or in our industry, rapid changes in technology; sales cycle and product implementations; risks associated with transitioning to a new business model and the subsequent limited operating history; the possibility of new entrants into our software markets, the possibility that the market for the sale of certain software and services may not develop as expected; or that development of these software and services may not proceed as planned; the risks associated with the company's license program, and including risks of litigation involving intellectual property, patents and trademarks. Additional discussion of these and other risk factors affecting the company's business and prospects is contained in the company's periodic filings with the SEC.
Investor contact:
Jay Peterson
512.437.2476
Contact via
http://www.marketwire.com/mw/emailprcntct?id=BA101F65130A3E56
Media contact:
Lauren Peters
512.794.8600
Contact via
http://www.marketwire.com/mw/emailprcntct?id=C9C83392F27D81EA
SOURCE: Forgent Networks
theArgiope
18 years ago
Ouch, sorry, my friend. I've got it on my watchlist still, but too many other stronger options. DKAM, SKNN, UWNK, YPNT, MCEL...