NMT Group PLC
30 April 2004
NMT Group PLC
OUTSTANDING PATENT INFRINGEMENT LITIGATION IN US RESOLVED
The NMT Group PLC is pleased to announce that it has settled its patent dispute
with Retractable Technologies Inc.
Commenting on the announcement, Tony Fletcher, Chairman of NMT, said:-
'Whilst we have always been convinced of the strength of our case and were fully
prepared to take the matter all the way to a final hearing, settlement at this
stage, on acceptable terms and for a sum which is less than the expected legal
costs if the case had been appealed by the plaintiff, is clearly in NMT's
interest. Given that the case was being heard in a Texas court, we believed this
settlement removes the chance of an adverse judgement, with associated unknown
penalties and enables the Group to concentrate on its future opportunities
rather than apply resources to protect a product range which has been
discontinued.'
The settlement comprised of a payment of US$1million and admission of non-wilful
infringement of RTI patents.
Enquiries:
Gerard W Cassels,
Group Finance Director
Tel: 01506-445-004
30 April, 2004
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