GEOSENTRIC OYJ BULLETIN September 24, 2008 at 17:00
DECISION IN MAGI.TEL CASE RECEIVED
GeoSentric Oyj has been notified of a decision by the Court of First Instance in
Rome on the dispute between GeoSentric and an Italian company Magi.tel regarding
an alleged patent infringement. The claim was first brought against the company
in 2001 and it has been in the court process since then.
Magi.tel's originally claimed for damages of approximately 15 million euros. The
company has in several occasions underlined that it believes the claim to be
without grounds.
The court ruled in favour of company's views and rejected the claims for damages
for the most part and obliged GeoSentric to pay in total 167.070,00 euros in
damages and legal fees to Magi.tel. Even the ruling was in favour of the company
the company is still disappointed to the outcome as it was expecting all claims
to be rejected.
The Company still has a strong position that the claims made by Magi.tel are
without grounds and it is considering appealing on the judgement. Both parties
have a right to file an appeal within the given time limits.
The information regarding the claim has been disclosed earlier in several
occasions, including bulletins released on May 25, 2005 and on October 26, 2005.
September 24, 2008
GEOSENTRIC OYJ
Direct press and analyst inquiries to communications@gypsii.com in the Americas
or geosentric@companycare.com in EMEA.
Distribution:
OMX Nordic Exchange Helsinki
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