TARPON SPRINGS, Fla., April 28, 2006 (PRIMEZONE) -- Solomon Technologies, Inc. (OTCBB:SOLM) announced today that the U.S. International Trade Commission (ITC) has scheduled the hearing on the patent infringement complaint brought by Solomon against Toyota Motor Corporation (NYSE:TM), and certain of its affiliates, for October 30 through November 3, 2006. The ITC acts as an administrative investigative body to determine, among other things, whether or not goods imported into the United States infringe U.S. patents. The scheduled hearing at the ITC is roughly equivalent to the fact finding function of a trial in a judicial court.
Solomon President Peter W. DeVecchis, Jr., said, "The schedule recently promulgated by the ITC in this case is a major help in bringing an important aspect of our allegations quickly into focus. The expedited hearing and adjudication process at the ITC will allow us to bring the facts in this matter to the forefront without the extended process normally associated with patent infringement litigation in the Federal District Court system."
He continued, "Our action against Toyota in the Federal District Court in Tampa has been stayed pending resolution of the ITC case. We plan to pursue the Federal District Court action aggressively once the ITC case has been resolved."
As previously announced, Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. has been representing Solomon in its pending claims against Toyota. Solomon brought suit against Toyota Motor Corporation, Toyota Motor Sales U.S.A. Inc. and Toyota Motor Manufacturing North America in the United States District Court for the Middle District of Florida, Tampa Division, on September 12, 2005, claiming infringement of a number of claims in Solomon's U.S. Patent Number 5,067,932, primarily relating to Toyota's use of the technology in its Prius and Highlander Hybrid vehicles. On January 11, 2006, Solomon filed an additional complaint against Toyota with the United States International Trade Commission seeking to exclude importation of the infringing technology.
If Solomon is successful in its ITC action, Toyota could be prohibited from importing into the United States infringing combination motor and transmission systems and those products containing such systems, including the Toyota Prius and Highlander models.
Information about Solomon Technologies, Inc.:
Solomon Technologies, Inc. develops, licenses, manufactures and sells electric power drive systems, including those incorporating hybrid and regenerative technologies incorporating Solomon's patented Electric Wheel and Electric Transaxle, for marine, commercial, automotive, hybrid and all electric vehicle applications.
FORWARD LOOKING STATEMENTS: This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements regarding Solomon Technologies, Inc. in this release that are not historical in nature, particularly those that utilize the terminology such as "may," "will," "should," "likely," "expects," "anticipates," "estimates," "believes," or "plans," or comparable terminology, are forward-looking statements based on current expectations about future events, which management has derived from the information currently available to it. It is possible that the assumptions made by management for purposes of such statements may not materialize. Actual results may differ materially from those projected or implied in any forward-looking statements. Important factors known to management that could cause forward-looking statements to turn out to be incorrect are identified and discussed from time to time in the company's filings with the Securities and Exchange Commission. The forward-looking statements contained in this release speak only as of the date hereof, and the company undertakes no obligation to correct or update any forward-looking statements, whether as a result of new information, future events or otherwise.