JACKSONVILLE, Fla., Aug. 11, 2014 (GLOBE NEWSWIRE) -- ParkerVision, Inc. (Nasdaq:PRKR), a developer and marketer of semiconductor technology solutions for wireless applications, today announced that it has reached a confidential resolution of the litigation filed in late 2011 against the Company by three former shareholders (the "Plaintiffs"). The financial terms of the resolution will have no impact on the financial position, results of operations or liquidity of the Company.
The resolution between the parties was reached following substantial discovery and the Plaintiffs recent observation of a demonstration to prove the efficacy of the Company's d2p technology. Plaintiffs agreed and acknowledged that their allegations with regard to the efficacy of the d2p technology and all statements in their complaint attributed to or based upon the www.pvnotes.com website, Michael Farmwald, Barbara Paldus, Alfred Riddle, Steven Cripps and Joy Laskar with regard to the efficacy of the Company's d2p technology are without merit.
Jeffrey Parker, Chairman and CEO, commented, "We are pleased to have this matter resolved so that ParkerVision's board, management and legal resources can continue to focus 100% of their attention on our significant business opportunities."
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-I)
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 and the Forms 10Q for the quarter ended March 31, 2014. These risks and uncertainties could cause actual results to differ materially from those currently anticipated or projected.