WILMINGTON, Del., Feb. 12, 2014 (GLOBE NEWSWIRE) -- In a release issued under the same headline on Friday, February 7th, by InterDigital, Inc., the last sentence of the second paragraph should read, "The InterDigital executive indicated to NDRC apologies that the Company had misunderstood Chinese law and NDRC's rules and procedures in that regard.", rather than "The InterDigital executive indicated to NDRC that it was unfortunate that the Company had misunderstood Chinese law and NDRC's rules and procedures in that regard." The full, corrected release follows.
InterDigital, Inc. (Nasdaq:IDCC), a wireless research and development company, today announced that it is continuing to cooperate with an Anti-Monopoly Law (AML) investigation by China's National Development and Reform Commission (NDRC) and intends to submit a proposed commitments request to NDRC that could form the predicate for suspension of NDRC's investigation under a procedure provided for under the AML. On January 3, 2014, an InterDigital executive, accompanied by local and U.S. outside counsel, met with NDRC officials to respond to NDRC's investigation, to explain the Company's recent settlement agreement with the Chinese company in this matter and to discuss the way forward for resolving NDRC's investigation of InterDigital's licensing conduct. The Company executive reiterated at the meeting that InterDigital fully respects the authority of NDRC to implement the AML against monopolistic conduct that restricts competition in China's market.
During the January 3 meeting, NDRC officials indicated that InterDigital's executives, as well as executives of any other foreign company, should have no concerns about being detained or arrested if they travel to China to meet with NDRC in response to an AML investigation, as there is no legal basis for such action under Chinese anti-monopoly laws. NDRC also indicated that any foreign company that has been requested to appear before NDRC to respond to an investigation may propose who will attend the meeting on the company's behalf, which may include foreign outside counsel with a good understanding of the AML. The InterDigital executive indicated to NDRC apologies that the Company had misunderstood Chinese law and NDRC's rules and procedures in that regard.
InterDigital will continue to cooperate with NDRC's anti-monopoly investigation and work with NDRC to resolve any remaining concerns.
InterDigital develops technologies that are at the core of mobile devices, networks, and services worldwide. We solve many of the industry's most critical and complex technical challenges, inventing solutions for more efficient broadband networks and a richer multimedia experience years ahead of market deployment. InterDigital has licenses and strategic relationships with many of the world's leading wireless companies. Founded in 1972, InterDigital is listed on NASDAQ and is included in the S&P MidCap 400® index.
InterDigital is a registered trademark of InterDigital, Inc.
For more information, visit: www.interdigital.com.
CONTACT: Patrick Van de Wille Email: firstname.lastname@example.org +1 (858) 210-4814