CAPE TOWN, South Africa, Oct. 12, 2012 /PRNewswire/ -- Leatt Corporation (OTCQB: LEAT), a global designer and distributor of personal protective equipment for sports and lifestyle activities, based on the award-winning Leatt-Brace® patented neck protection system, announced today that European Patent No.1696842 for its neck brace has been upheld as granted by the European Patent Office (the "EPO"). The relevant patent is owned by Xceed Holdings CC and exclusively licensed to Leatt.
Alpinestars S.P.A. had challenged the validity of the patent on several grounds, including that the patent was not new or inventive. On October 10, 2012, the EPO's Opposition Division rejected Alpinestars' arguments following an oral hearing and maintained Xceed's patent as granted.
Sean Macdonald, Chief Executive Officer of Leatt Corporation, said, "We are pleased that the EPO has upheld the patent. We invest substantially in developing our technology and products. Intellectual property is a key part of our business and we expect our competitors to respect our rights."
About Leatt Corporation
Leatt Corporation develops, distributes and markets personal protective equipment and ancillary products for all forms of sports, especially extreme motor sports. The Leatt-Brace® is an award-winning neck brace system considered the gold standard for neck protection for anyone wearing a crash helmet as a form of protection. It was designed for participants in extreme sports or riding motorcycles, bicycles, mountain bicycles, all-terrain vehicles, snowmobiles and other vehicles. For more information, visit: www.leatt-corp.com | www.leatt.com
This press release may contain forward-looking statements regarding Leatt Corporation (the "Company") within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact included herein are "forward-looking statements" including statements regarding: the Company's ability to continue making substantial investments in development of technology and products and in its intellectual property; the Company's expectation that competitors will respect its intellectual property rights; the ability of the Company to achieve its commercial objectives; the business strategy, plans and objectives of the Company and its subsidiaries; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects," "anticipates," "seeks," "should," "could," "intends," or "projects" or similar expressions, involve known and unknown risks and uncertainties. These statements are based upon the Company's current expectations and speak only as of the date hereof. Any indication of the merits of a claim does not necessarily mean the claim will prevail at trial or otherwise. Financial performance in one fiscal period does not necessarily mean continued or better performance in the future. The Company's actual results in any endeavor may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, which factors or uncertainties may be beyond our ability to foresee or control. Other risk factors include the status of the Company's common stock as a "penny stock" and those listed in the Company's filings with the SEC available at www.sec.gov.
Chief Executive Officer
+ (27) 21 557 7257
Allen & Caron, Inc.
Rudy Barrio (Investors)
Len Hall (Media)
SOURCE Leatt Corporation