Bel Fuse Reports SynQor Verdict
December 22 2010 - 4:30PM
Business Wire
Bel Fuse Inc. (NASDAQ:BELFA) (NASDAQ:BELFB) today
announced that the jury has reached its verdict in SynQor v.
Artesyn Technologies, Inc., et al. In 2007, SynQor filed a lawsuit
in the United States District Court for the Eastern District of
Texas, alleging that eleven defendants, including Bel Fuse,
infringed its patents covering certain power products. SynQor
asserted 10 claims in 5 patents at trial, but withdrew its
willfulness claims and its request for treble damages prior to
trial.
The jury found that certain products of the defendants directly
and/or indirectly infringe the SynQor patents. The Bel products
accused of infringing the SynQor patents involve unregulated bus
converters. The jury awarded damages of approximately $8.1 million
against Bel.
The patents were issued in the United States in 2006-2009. Bel
is currently evaluating the impact of the verdict, but does not
believe that the impact will be material to its overall business.
Bel is also evaluating its grounds for appeal.
About Bel
Bel (www.belfuse.com) and its divisions are primarily engaged in
the design, manufacture, and sale of products used in networking,
telecommunications, high-speed data transmission, commercial
aerospace, military, transportation, and consumer electronics.
Products include magnetics (discrete components, power transformers
and MagJack® connectors with integrated magnetics), modules (DC-DC
converters, integrated analog front-end modules and custom
designs), circuit protection (miniature, micro and surface mount
fuses) and interconnect devices (micro, circular and filtered D-Sub
connectors, passive jacks, plugs and high-speed cable assemblies).
The Company operates facilities around the world.
Forward-Looking Statements
Except for historical information contained in
this press release, the matters discussed in this press release
(including the impact of the verdict on the Company's business) are
forward looking statements that involve risks and uncertainties.
Among the factors that could cause actual results to differ
materially from such statements are: the market concerns facing our
customers, the continuing viability of sectors that rely on our
products, the effect of business and economic conditions; capacity
and supply constraints or difficulties; product development,
commercializing or technological difficulties; the regulatory and
trade environment; risks associated with foreign currencies;
uncertainties associated with the appeal of jury verdicts; the
market's acceptance of the Company's new products and competitive
responses to those new products and the risk factors detailed from
time to time in the Company's SEC reports. In light of the risks
and uncertainties, there can be no assurance that any
forward-looking statement will in fact prove to be correct. We
undertake no obligation to update or revise any forward-looking
statements.
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