Color Kinetics and Super Vision Reach Comprehensive Settlement
06 Diciembre 2006 - 7:15AM
Business Wire
Color Kinetics Incorporated (NASDAQ:CLRK), a leading innovator of
LED lighting systems and technologies, and Super Vision
International, Inc. (NASDAQ:SUPVA), a world leader in solid-state
LED and fiber optic lighting systems and controls, today announced
a joint settlement agreement ending all pending litigation between
the two companies. Through the agreement: Super Vision will pay
Color Kinetics a set fee as settlement for all past claims Color
Kinetics has against Super Vision, including the amount awarded to
Color Kinetics by the U.S. District Court for the District of
Massachusetts. Super Vision will drop its pending claim of
infringement against Color Kinetics with respect to U.S. patent
#4,962,687, known as the �687 patent, in the U.S. District Court
for the Eastern District of Texas. Color Kinetics will drop its
declaratory judgment claim of non-infringement of the �687 patent
filed in the U.S. District Court for the District of Massachusetts.
Color Kinetics will grant Super Vision a royalty bearing license to
its worldwide patent portfolio, allowing Super Vision to continue
the manufacture and sale of its LED-based lighting products,
including the SaVi� line. Super Vision will grant Color Kinetics a
royalty free license to the �687 patent. Super Vision waives its
rights to appeal the final judgment granted to Color Kinetics by
the U.S. District Court of Massachusetts on November 8, 2006. In
its ruling, the Court permanently enjoined Super Vision from
manufacturing or selling in the United States any of the Super
Vision products that were held to infringe Color Kinetics� patents,
and all other Super Vision products which are merely colorable
variations of the litigated products. By granting a license, Color
Kinetics is allowing Super Vision to continue the sale of all
enjoined products. In August 2005 the Court granted summary
judgment that all five of Color Kinetics� asserted patents are not
invalid, that certain Super Vision products infringe those patents,
and that Color Kinetics did not engage in inequitable conduct
before the U.S. Patent and Trademark Office. �Since inception,
Color Kinetics has devoted significant resources to building a
strong intellectual property portfolio that reflects the company�s
vision, engineering talent, and multi-million dollar investment in
research and development. We choose not to exclude players from the
field, but rather enable the market through an active licensing
program,� said Bill Sims, President and CEO, Color Kinetics. �We�re
gratified by the resolution of our litigation with Super Vision,
which we believe sends a strong message to the industry.� �The
future is extremely bright for the global LED lighting industry and
Super Vision is now positioned to capitalize on that potential.
After almost five years of litigation, it is exciting to be able to
focus 100% of our efforts on growing the company, developing new
products and incorporating new LED technologies into lighting
systems and controls through this agreement,� stated Mike Bauer,
President and CEO of Super Vision International. �It was time to
put the past behind us and get refocused on the business of
lighting.� Sims added, �Color Kinetics remains focused on
developing new technologies to drive our Lighting Systems business,
while also making those technologies and resulting IP available to
third parties. The resolution of this case, combined with an
ever-growing number of patents and broad list of prospective
licensees, will allow us to aggressively pursue new agreements in
diverse markets -- ultimately helping to advance adoption of LED
illumination worldwide.� This settlement agreement resolves all
current claims between the two companies and allows both Color
Kinetics and Super Vision International to focus their efforts on
the expanding market for solid-state LED lighting systems around
the world. About Color Kinetics Color Kinetics Incorporated
(NASDAQ:CLRK) transforms environments through new, dynamic uses of
light. Its award-winning lighting systems and technologies apply
the benefits of LEDs as a highly efficient, long lasting,
environmentally friendly, and inherently digital source of
illumination � reinventing light itself as a highly controllable
medium. Color Kinetics also enables widespread adoption of LED
lighting through OEM and licensing partnerships in diverse markets.
The company is headquartered in Boston, MA with offices in the UK,
China, and Japan. More information is available at
www.colorkinetics.com. About Super Vision International, Inc. Super
Vision International�s vision is to incorporate Light, Color and
Imagination with advanced technology to become one of the world�s
leading suppliers of lighting and lighting control products that
add visual excitement, accent, impact and identity to commercial
and residential lighting projects around the world. For more
information, please visit the Super Vision web site at
www.svision.com. �2006 Color Kinetics Incorporated. Color Kinetics
and the Color Kinetics logo are registered trademarks of Color
Kinetics Incorporated. All other trademarks mentioned are the
property of their respective owners. �Safe Harbor" Statement under
the Private Securities Litigation Reform Act of 1995: Statements in
this press release regarding Color Kinetics Incorporated or Super
Vision International, Inc. businesses�that�are not historical
facts�are "forward-looking statements"�within the meaning of the
Private Securities Litigation Reform Act of 1995.�Readers are
cautioned that these statements involve risks and uncertainties,
are only predictions and may differ materially from actual future
events and results.�For a discussion of such risks and
uncertainties,�see �Risk Factors� in the companies��Annual Reports
on Form 10-K, or Form 10-KSB, as applicable, for the twelve months
ended December 31, 2005, and most recent 10-Q, or 10-QSB, as
applicable, each as filed with the Securities and Exchange
Commission. Color Kinetics Incorporated (NASDAQ:CLRK), a leading
innovator of LED lighting systems and technologies, and Super
Vision International, Inc. (NASDAQ:SUPVA), a world leader in
solid-state LED and fiber optic lighting systems and controls,
today announced a joint settlement agreement ending all pending
litigation between the two companies. Through the agreement: --
Super Vision will pay Color Kinetics a set fee as settlement for
all past claims Color Kinetics has against Super Vision, including
the amount awarded to Color Kinetics by the U.S. District Court for
the District of Massachusetts. -- Super Vision will drop its
pending claim of infringement against Color Kinetics with respect
to U.S. patent #4,962,687, known as the '687 patent, in the U.S.
District Court for the Eastern District of Texas. -- Color Kinetics
will drop its declaratory judgment claim of non-infringement of the
'687 patent filed in the U.S. District Court for the District of
Massachusetts. -- Color Kinetics will grant Super Vision a royalty
bearing license to its worldwide patent portfolio, allowing Super
Vision to continue the manufacture and sale of its LED-based
lighting products, including the SaVi(TM) line. -- Super Vision
will grant Color Kinetics a royalty free license to the '687
patent. -- Super Vision waives its rights to appeal the final
judgment granted to Color Kinetics by the U.S. District Court of
Massachusetts on November 8, 2006. In its ruling, the Court
permanently enjoined Super Vision from manufacturing or selling in
the United States any of the Super Vision products that were held
to infringe Color Kinetics' patents, and all other Super Vision
products which are merely colorable variations of the litigated
products. By granting a license, Color Kinetics is allowing Super
Vision to continue the sale of all enjoined products. In August
2005 the Court granted summary judgment that all five of Color
Kinetics' asserted patents are not invalid, that certain Super
Vision products infringe those patents, and that Color Kinetics did
not engage in inequitable conduct before the U.S. Patent and
Trademark Office. "Since inception, Color Kinetics has devoted
significant resources to building a strong intellectual property
portfolio that reflects the company's vision, engineering talent,
and multi-million dollar investment in research and development. We
choose not to exclude players from the field, but rather enable the
market through an active licensing program," said Bill Sims,
President and CEO, Color Kinetics. "We're gratified by the
resolution of our litigation with Super Vision, which we believe
sends a strong message to the industry." "The future is extremely
bright for the global LED lighting industry and Super Vision is now
positioned to capitalize on that potential. After almost five years
of litigation, it is exciting to be able to focus 100% of our
efforts on growing the company, developing new products and
incorporating new LED technologies into lighting systems and
controls through this agreement," stated Mike Bauer, President and
CEO of Super Vision International. "It was time to put the past
behind us and get refocused on the business of lighting." Sims
added, "Color Kinetics remains focused on developing new
technologies to drive our Lighting Systems business, while also
making those technologies and resulting IP available to third
parties. The resolution of this case, combined with an ever-growing
number of patents and broad list of prospective licensees, will
allow us to aggressively pursue new agreements in diverse markets
-- ultimately helping to advance adoption of LED illumination
worldwide." This settlement agreement resolves all current claims
between the two companies and allows both Color Kinetics and Super
Vision International to focus their efforts on the expanding market
for solid-state LED lighting systems around the world. About Color
Kinetics Color Kinetics Incorporated (NASDAQ:CLRK) transforms
environments through new, dynamic uses of light. Its award-winning
lighting systems and technologies apply the benefits of LEDs as a
highly efficient, long lasting, environmentally friendly, and
inherently digital source of illumination - reinventing light
itself as a highly controllable medium. Color Kinetics also enables
widespread adoption of LED lighting through OEM and licensing
partnerships in diverse markets. The company is headquartered in
Boston, MA with offices in the UK, China, and Japan. More
information is available at www.colorkinetics.com. About Super
Vision International, Inc. Super Vision International's vision is
to incorporate Light, Color and Imagination with advanced
technology to become one of the world's leading suppliers of
lighting and lighting control products that add visual excitement,
accent, impact and identity to commercial and residential lighting
projects around the world. For more information, please visit the
Super Vision web site at www.svision.com. (C)2006 Color Kinetics
Incorporated. Color Kinetics and the Color Kinetics logo are
registered trademarks of Color Kinetics Incorporated. All other
trademarks mentioned are the property of their respective owners.
"Safe Harbor" Statement under the Private Securities Litigation
Reform Act of 1995: Statements in this press release regarding
Color Kinetics Incorporated or Super Vision International, Inc.
businesses that are not historical facts are "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. Readers are cautioned that these statements
involve risks and uncertainties, are only predictions and may
differ materially from actual future events and results. For a
discussion of such risks and uncertainties, see "Risk Factors" in
the companies' Annual Reports on Form 10-K, or Form 10-KSB, as
applicable, for the twelve months ended December 31, 2005, and most
recent 10-Q, or 10-QSB, as applicable, each as filed with the
Securities and Exchange Commission.
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