TransAct Technologies Announces Ohio Appeals Court’s Denial of Avery Dennison’s Request for Preliminary Injunction
October 18 2013 - 7:30AM
Business Wire
TransAct Technologies Incorporated (Nasdaq: TACT) (“the
Company”), a global leader in market-specific solutions, including
printers, terminals, software and other products for
transaction-based and other industries, announced today that the
Court of Appeals for the Eleventh Appellate District in Lake
County, Ohio, has affirmed the November 2012 judgment of the Lake
County Court of Common Pleas in TransAct’s favor. The earlier Lake
County Court of Common Pleas judgment denied Avery Dennison
Corporation’s request for a preliminary injunction against TransAct
for alleged misappropriation of Avery Dennison trade secrets in
connection with the design of the Company’s food safety
terminals.
Bart Shuldman, Chairman and Chief Executive Office of TransAct,
commented, “We are very pleased that the Court of Appeals ruled in
TransAct’s favor, confirming our position that Avery Dennison’s
claims are wholly without merit. We remain highly confident in the
strengths and value of our intellectual property portfolio, which
is the result of the development work of our engineering team and
which forms the foundation for our innovative solutions that
address specific opportunities across multiple industries. As such,
TransAct is always willing to compete for market share based on the
competitive strengths of our products and solutions.
“Our innovative Ithaca® 9700 food safety terminal continues to
lead the way in addressing the technology needs of a wide variety
of restaurant and food service operators around the world and is
being embraced as the preferred food safety solution. The number of
potential sales opportunities for the Ithaca 9700 continues to
grow, and we look forward to working closely with an increasing
number of restaurant and food service operators to bring this
unique solution to market.”
About TransAct Technologies Incorporated
TransAct Technologies Incorporated is a leader in developing and
manufacturing market-specific solutions, including printers,
terminals, software and other products for transaction-based and
other industries. These industries include casino and gaming,
lottery, food safety, banking, point-of-sale, hospitality, oil and
gas, and medical and mobile. Each individual market has distinct,
critical requirements for printing and the transaction is not
complete until the receipt and/or ticket is produced. TransAct
printers and products are designed from the ground up based on
market-specific requirements and are sold under the Ithaca®, Epic,
EPICENTRAL® and Printrex® product brands. TransAct distributes its
printers through OEMs, value-added resellers, selected
distributors, and direct to end-users. TransAct has over 2.4
million printers installed around the world. TransAct is also
committed to providing world-class printer service, spare parts,
accessories and printing supplies to its growing worldwide
installed base of printers. Through its TransAct Services Group,
TransAct provides a complete range of supplies and consumable items
used in the printing and scanning activities of customers in the
hospitality, banking, retail, gaming, government and oil and gas
exploration markets. Through its webstore,
http://www.transactsupplies.com, and a direct selling team,
TransAct addresses the on-line demand for these products. TransAct
is headquartered in Hamden, CT. For more information, please visit
http://www.transact-tech.com or call 203.859.6800.
Forward-Looking Statements
Certain statements in this press release include forward-looking
statements. Forward-looking statements generally can be identified
by the use of forward-looking terminology, such as "may", "will",
"expect", "intend", "estimate", "anticipate", "believe" or
"continue" or the negative thereof or other similar words. All
forward-looking statements involve risks and uncertainties,
including, but are not limited to, customer acceptance and market
share gains, both domestically and internationally, in the face of
substantial competition from competitors that have broader lines of
products and greater financial resources; our competitors
introducing new products into the marketplace; our ability to
successfully develop new products; our dependence on significant
customers; our dependence on significant vendors; dependence on
contract manufacturers for the assembly of a large portion of our
products in China; our ability to protect intellectual property;
our ability to recruit and retain quality employees as the Company
grows; our dependence on third parties for sales outside the United
States, including Australia, New Zealand, Europe, Latin America and
Asia; the economic and political conditions in the United States,
Australia, New Zealand, Europe, Latin America and Asia; marketplace
acceptance of new products; risks associated with foreign
operations; the availability of third-party components at
reasonable prices; price wars or other significant pricing
pressures affecting the Company's products in the United States or
abroad; risks associated with potential future acquisitions;
our new line of food safety and oil and gas products will drive
increased adoption by customers; the outcome of the lawsuit between
TransAct and Avery Dennison Corporation; and other risk factors
detailed from time to time in TransAct's reports filed with the
Securities and Exchange Commission. Actual results may differ
materially from those discussed in, or implied by, the
forward-looking statements. The forward-looking statements speak
only as of the date of this release and the Company assumes no duty
to update them to reflect new, changing or unanticipated events or
circumstances.
Investors:TransAct Technologies IncorporatedSteve
DeMartino, 203-859-6810President and Chief Financial
OfficerorJCIRRichard Land, Joseph Jaffoni, Jim Leahy212-835-8500 or
tact@jcir.com
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