Adeia Receives Decisions in Videotron and Bell/Telus Case Appeals
19 Agosto 2024 - 3:05PM
Adeia Inc. (Nasdaq: ADEA) (“Adeia” or “Company”), the company
delivering innovative technology solutions across multiple
industries, today announced that the Canadian Court of Appeals has
issued its rulings in the Company's appeals of both the Videotron
and Bell/Telus cases. Importantly, the Court agreed with the
Company on several key issues, finding that the lower court erred
in multiple aspects of its analysis relating to royalty-based
damages, accounting of profits and injunctions, which ultimately
supports patent rights and the patent licensing environment in
Canada. While the Court upheld the invalidity findings of the lower
court related to the patents at issue in those cases, the Company
believes the otherwise favorable rulings will be beneficial in the
Company’s second phase of cases against Videotron and Bell
scheduled to go to trial in 2025 and in its licensing efforts
generally in Canada.
“We are very pleased with the Court’s rulings on key issues that
support our licensing practices in Canada and believe the Court's
decisions in both cases positively contribute to the evolving
landscape of patent law in Canada,” said Kevin Tanji, chief legal
officer at Adeia. “We look forward to pursuing our rights in light
of these rulings in our second phase of cases against Videotron and
Bell. We remain committed to protecting our intellectual property
and will continue to seek market-based licenses with the Canadian
Pay-TV operators that cover our innovations which have helped shape
the digital entertainment landscape.”
“Although we didn’t achieve the full outcome we sought, we’re
pleased with the Court's guidance on key patent-related issues in
both the Videotron and Bell/Telus rulings,” added Keith A. Jones,
chief financial officer at Adeia. “Importantly, these decisions do
not affect our 2024 guidance and we continue to believe we have a
significant opportunity in Canada.”
About Adeia
Adeia is a leading R&D and intellectual
property (IP) licensing company that accelerates the adoption of
innovative technologies in the media and semiconductor industries.
Adeia’s fundamental innovations underpin technology solutions that
are shaping and elevating the future of digital entertainment and
electronics. Adeia’s IP portfolios power the connected devices that
touch the lives of millions of people around the world every day as
they live, work and play. For more, please visit www.adeia.com.
Safe Harbor Statement
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the meaning of the federal securities laws, including Section 27A
of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. These forward-looking
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of which are beyond the Company’s control, and are not guarantees
of future results. Forward-looking statements are subject to risks,
uncertainties and assumptions that could cause actual results to
differ materially from those expressed in any forward-looking
statements. Accordingly, there are or will be important factors
that could cause actual results to differ materially from those
indicated in such statements and, therefore, you should not place
undue reliance on any such statements and caution must be exercised
in relying on forward-looking statements. Important risk factors
that may cause such a difference include, but are not limited to:
the Company’s ability to implement its business strategy; the
Company’s ability to enter into new and renewal license agreements
with customers on favorable terms; the Company’s ability to retain
and hire key personnel; uncertainty as to the long-term value of
the Company’s common stock; legislative, regulatory and economic
developments affecting the Company’s business; general economic and
market developments and conditions; the Company’s ability to grow
and expand its patent portfolios; changes in technology and
development of new technology in the industries in which the
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under which the Company operates; unforeseen liabilities and
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Company’s ability to achieve the intended benefits of, and its
ability to recognize the anticipated tax treatment of, the spin-off
of its product business; unpredictability and severity of
catastrophic events, including, but not limited to, acts of
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impact on the Company’s business, results of operations, and
financial condition. These risks, as well as other risks associated
with the Company’s business, are more fully discussed in the
Company’s filings with the U.S. Securities and Exchange Commission
(“SEC”), including the Company’s Annual Report on Form 10-K and
Quarterly Reports on Form 10-Q. While the list of factors presented
here is, and the list of factors presented in the Company’s filings
with the SEC are, considered representative, no such list should be
considered to be a complete statement of all potential risks and
uncertainties. Unlisted factors may present significant additional
obstacles to the realization of forward-looking statements.
Causes of material differences in results as compared with those
anticipated in the forward-looking statements could include, among
other things, business disruption, operational problems, financial
loss, legal liability to third parties and similar risks, any of
which could have a material adverse effect on the Company’s
consolidated financial condition, results of operations, liquidity
or trading price of common stock. The Company does not assume any
obligation to publicly provide revisions or updates to any
forward-looking statements, whether as a result of new information,
future developments or otherwise, should circumstances change,
except as otherwise required by securities and other applicable
laws.
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For Information Contact:Investor RelationsChris
ChaneyIR@adeia.com |
Media RelationsJoAnn Yamanipress@adeia.com |
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