CGG Veritas: US Court Partially Overturns Unit Patent Ruling

Date : 09/21/2010 @ 3:25AM
Source : Dow Jones News
Stock : Ion Geophysical Corp. (IO)
Quote : 8.5  -0.4 (-4.49%) @ 3:59PM

CGG Veritas: US Court Partially Overturns Unit Patent Ruling

French geophysical company CGG Veritas SA (GA.FR) said Tuesday that a Federal District Court in Texarkana, Texas, has overturned an initial jury's verdict that its subsidiary, Sercel Inc., infringed a U.S. patent.

The court overturned a jury's ruling that its subsidiary, Sercel Inc., infringed a U.S. patent on digital captors for ocean bottom cables on one theory of infringement claimed by ION Geophysical Corp. (IO).

The court also sustained the jury's verdict on another theory of infringement and the validity of the patent, CGG Veritas said.

Further, the court determined that ION wasn't entitled to the $25.2 million in lost profits awarded by the jury, and reduced the damages award to $10.7 million, the group said.

Sercel and ION will have 30 days to negotiate the terms of, and the sole activities that would be subject to, an injunction.

The court will enter a final judgment after these negotiations are completed, but no later than 30 days.

"Sercel continues to believe that ION's remaining infringement claim is without merit," CGG Veritas said.

Company website: www.cggveritas.com

-By Geraldine Amiel, Dow Jones Newswires; +33 1 4017 1740; geraldine.amiel@dowjones.com

 
 

Latest IO Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....


No posts yet, be the first! No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts


Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.


NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.