JACKSONVILLE, Fla., May 2, 2014 (GLOBE NEWSWIRE) -- ParkerVision, Inc. (Nasdaq:PRKR) (the "Company") provided the following update after a hearing yesterday on outstanding motions related to the Company's patent infringement litigation against Qualcomm (Nasdaq:QCOM).
The hearing before Judge Roy Dalton in U.S. District Court in the Middle District of Florida relates to the Company's ongoing patent infringement litigation against Qualcomm that was first filed in July of 2011. In October of 2013, a jury sided in favor of ParkerVision and awarded the Company $173 million in damages related to this matter.
The Court ruled from the bench on a number of the outstanding motions during yesterday's hearing. Specifically, the Court denied Qualcomm's motion for JMOL (Judgment as a Matter of Law), as well as its request for a new trial on damages. The Court also denied ParkerVision's motions for JMOL or a new trial on willfulness, and its motion for a permanent injunction against Qualcomm. The Court has not yet ruled on Qualcomm's outstanding JMOL motions regarding invalidity and infringement, or on ParkerVision's outstanding motion for ongoing enhanced royalties and pre- and post-judgment interest.
The Court ordered the parties to confer in order to determine if an agreement can be reached regarding an ongoing royalty rate and the calculation of pre- and post-judgment interest. The parties are required to report the results of their meeting to the Court within 30 days.
Jeffrey Parker, Chairman and Chief Executive Officer of ParkerVision, commented, "We are pleased with the outcome of yesterday's hearing and we look forward to the Court's final ruling."
ParkerVision, Inc. designs, develops and markets its proprietary radio-frequency (RF) technologies that enable advanced wireless solutions for current and next generation communications networks. Protected by a highly-regarded, worldwide patent portfolio, the Company's solutions for wireless transfer of RF waveforms address the needs of a broad range of wirelessly connected devices for high levels of RF performance coupled with best-in-class power consumption. For more information please visit www.parkervision.com. (PRKR-G).
Safe Harbor Statement
This press release contains forward-looking information. Readers are cautioned not to place undue reliance on any such forward-looking statements, each of which speaks only as of the date made. Such statements are subject to certain risks and uncertainties which are disclosed in the Company's SEC reports, including the Form 10K for the year ended December 31, 2013. These risks and uncertainties could cause actual results to differ materially from those currently anticipated or projected.