TMM, Inc. Announces the Filing of a Lawsuit to Protect Its Intellectual Property
21 Marzo 2013 - 7:30AM
Marketwired
TMM, Inc. (PINKSHEETS:TMMI) ("TMMI") or (the "Company") announces
that TMMI and its subsidiary, Digital Focus, Inc. ("DFI"), have
filed a lawsuit in the Eighth Judicial District Court, Clark
County, Nevada, against Lawrence F. Panik; Dimension, Inc.; Digital
Focus Media, Inc.; Bruce Hoyt; Jeffrey R. Phillips; Lyman P. Hurd;
John Elton; and other parties to be later named, seeking the return
of its intellectual property, declaratory and equitable relief
jointly and severally against the named defendants, and damages,
including punitive and exemplary damages.
The lawsuit concerns TMMI's fractal video compression technology
and defendants' misappropriation of that technology. In March 1993,
TMMI paid for an exclusive, perpetual, non-transferrable world-wide
license to fractal video compression source code (VDK 1.0-1.9) from
Iterated Systems, Inc. ("ISI"). Such license was for ISI's software
based on ISI's fractal video compression technology reflecting
ISI's more than two dozen issued patents involving the
technology.
In March 2000, DFI and ISI entered into a license agreement by
which DFI was granted an exclusive license to use and develop the
PVS/SGI (VDK 2.0) source code. Such fully-paid license was
exclusive to DFI in accordance with its terms. DFI was acquired by
TMMI pursuant to a stock exchange transaction dated June 8,
2012.
The Complaint alleges that some of the defendants stole an early
version of the fractal video compression technology from a
protected computer in or about 2002. TMMI and DFI are seeking
equitable relief against the named defendants to enjoin any further
development and/or enhancement by any of them of the stolen source
code and the return of the source code together with any
derivatives and copies thereof.
The Causes of Action asserted against the named defendants
include Conversion, Defamation of Title, Misappropriation of Trade
Secrets, Intentional Interference with Contract, and Unfair
Competition.
TMMI has successfully resolved litigation against other parties
to protect and preserve its intellectual property rights, and will
continue to aggressively prosecute its interests against any
parties making adverse claims relating to TMMI's license rights in
its fractal video compression technology.
ON BEHALF OF THE BOARD OF DIRECTORS OF TMM, INC.:
GERARD V. CAVANAUGH, CHAIRMAN AND PRESIDENT
For more information, please visit the Company's Website at
http://www.tmmi.us.
Safe Harbor Statement
The information in this release contains forward-looking
statements which involve risks and uncertainties, including
statements regarding the Company's capital needs, business strategy
and expectations. Any statements contained herein that are not
statements of historical fact may be deemed to be forward-looking
statements, which may be identified by terminology such as "may",
"should", "will", "expect", "plan", "intend", "anticipate",
"believe", "estimate", "predict", "potential", "forecast",
"project", or "continue", the negative of such terms or other
comparable terminology. Readers should not rely on forward-looking
statements as predictions of future events or results. Any or all
of the Company's forward-looking statements may turn out to be
wrong. They can be affected by inaccurate assumptions, risks and
uncertainties and other factors which could cause actual events or
results to be materially different from those expressed or implied
in the forward-looking statements. Factors may cause the Company's
actual results to differ materially from any forward-looking
statement. In addition, new factors emerge from time to time and it
is not possible for the Company to predict all factors that may
cause actual results to differ materially from those contained in
any forward- looking statements. The Company disclaims any
obligation to publicly update any forward-looking statements to
reflect events or circumstances after the date of this document,
except as required by applicable law.
Contacts: TMM, Inc. 118 School Road Wilmington, DE 19803 1 800
821-9877info@tmmi.us www.tmmi.us
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