FAIRFIELD, Conn., Dec. 4, 2002 (PRIMEZONE) -- Competitive Technologies, Inc. (AMEX:CTT) announced today that progress is being made in the case against Fujitsu for infringement of patents for plasma display technology. U.S. Magistrate Judge Joseph C. Spero, U.S. District Court for the Northern District of California, has issued an order favorable to the positioning of CTT and its client the University of Illinois. The Court ruled that Competitive Technologies, as requested, has been dismissed as a plaintiff "without prejudice" in the case; and, that Fujitsu's counterclaims 1-5, against CTT regarding patent validity, are dismissed, without prejudice, leaving in place counterclaims 6-13, a process challenge. CTT's client, the University of Illinois, continues to prosecute its suit against Fujitsu Limited of Tokyo, Japan and its subsidiaries (Fujitsu) to protect its intellectual property rights, and the interest and rights of the citizens of Illinois.
Paul A. Levitsky, Vice President and Associate General Counsel for CTT stated: "Judge Spero's order is a victory for CTT because the ruling allows the University to pursue the case as the sole plaintiff while CTT maintains its financial interest in the outcome. By the Court issuing the order `without prejudice,' CTT can come back into the case as a plaintiff should the circumstances warrant. Additionally, dropping counterclaims 1-5 allows CTT and the University to focus on responding to the remaining counterclaims. A hearing on these remaining counterclaims is expected this month."
The suit alleges that plasma display panels (PDPs) being sold by Fujitsu infringe US patents assigned to the University. The patented technology provides for energy recovery, and is a critical component used in PDPs and plasma display flat television screens. Matsushita Electric Industrial Co., Ltd. and their subsidiary, Plasmaco, Inc. are already non-exclusive licensees of the patented technology. Their products include Panasonic brand 42- and 60-inch flat screen units.
About Competitive Technologies, Inc.
Competitive Technologies, established in 1968, is focused on the technology needs of its customers and transforming those requirements into commercially viable solutions. CTT is a global leader in identifying, developing and commercializing innovative life, digital, nano, and physical science technologies developed by universities, companies and inventors. CTT's specialized expertise and experience make it a value-added partner within the global business and scientific community. CTT meets the challenges of global technology commercialization by maximizing the value of intellectual assets for the benefit of its customers, clients and shareholders. Visit CTT's website: http://www.competitivetech.net
Statements about the Company's future expectations, including development and regulatory plans, and all other statements in this document other than historical facts are "forward-looking statements" within the meaning of applicable Federal Securities Laws and are not guarantees of future performance. These statements involve risks and uncertainties, including those set forth in Item 1 of the Company's most recent Form 10-K and in CTT's other filings with the SEC, and are subject to change at any time. The Company's actual results could differ materially from these forward-looking statements. The Company undertakes no obligation to update publicly any forward-looking statement.