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ASETEK - Court Confirms Judgement, Increases Damages Award and Issues Injunction


Posted: Sep 25, 2015 2:35 am | Business, Financial & Legal Press Releases | Stock Ticker: OTCMKTS:ASKTF

In late 2014, Asetek won a patent infringement case against CMI USA, Inc. ("CMI") at the United States District Court for the Northern District of California. The jury unanimously ruled in favor of Asetek, and awarded damages based on a 14.5% royalty rate. In a post trial motion, CMI demanded a judgement as a matter of law and a new trial.

 

The court yesterday denied CMI's demands, and instead substantially followed Asetek's requests and issued a permanent injunction barring CMI and its parent Cooler Master from selling certain infringing products into the Unites States. Also, the judge awarded Asetek enhanced damages i.e., a 25.375% royalty rate, on CMI's revenues for sales of infringing products beginning January 1, 2015. It should be noted that the matter is appealable by CMI.

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