JACKSONVILLE, Fla., June 15, 2015 -- ParkerVision, Inc. (Nasdaq:PRKR), a developer, manufacturer and marketer of semiconductor technology solutions for wireless applications, announced today that it has modified its retention agreement with litigation firm McKool Smith for its patent infringement litigation currently underway in the middle district of Florida (ParkerVision Inc V. Qualcomm Inc., et al., 6:14-cv-00687). Under the terms of the amended retention agreement, McKool Smith will handle the ongoing litigation on a full contingent basis. Previously, McKool Smith was retained on a partial contingent basis whereby ParkerVision funded a portion of legal fees and all expenses.
ParkerVision's lead litigator and principal at McKool Smith, Doug Cawley, commented, "We have worked with ParkerVision for a number of years and are very familiar with their technology, their patents, and their management team. We believe in this company and look forward to our continued relationship."
Commenting on the revised retention agreement, ParkerVision's Chief Executive Officer, Jeffrey Parker stated, "We appreciate the confidence McKool Smith has demonstrated in ParkerVision by taking on our ongoing litigation on a fully contingent basis. We have developed a strong relationship with our litigation partners at McKool Smith over the past few years, and believe they are absolutely the right firm to assist us in prosecuting infringers of our intellectual property."
Mr. Parker continued, "The cost of litigation in the U.S. creates a significant financial burden, particularly for the small innovator. The support of McKool Smith enables us to better manage our expenses, while at the same time ensuring that both parties are focused on successfully prosecuting this action."
ParkerVision commenced this action against Qualcomm, HTC and Samsung in 2014, alleging the infringement of eleven ParkerVision patents related to RF down-conversion and up-conversion technologies, systems for control of multi-mode, multi-band communications, baseband innovations including control and system calibration, and wireless protocol conversion. The case schedule has a technology tutorial set for June 29, 2015, a Markman hearing on August 12, 2015 and a trial scheduled to begin on August 1, 2016.
ParkerVision, Inc. designs, develops and markets its proprietary RF technologies, which enable advanced wireless communications for current and next generation mobile communications networks. Its solutions for wireless transfer of radio frequency (RF) waveforms enable significant advancements in wireless products, addressing the needs of the cellular industry for efficient use of power, reduced cost and size, greater design simplicity and enhance performance in mobile handsets as the industry migrates to next generation networks. ParkerVision is headquartered in Jacksonville, Fla. For more information, please visit http://www.parkervision.com.
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 10-K for the year ended December 31, 2014 and the Form 10-Q for the quarter ended March 31, 2015. These risks and uncertainties could cause actual results to differ materially from those currently anticipated or projected.
Contact: Cindy Poehlman Chief Financial Officer ParkerVision, Inc. 904-732-6100, firstname.lastname@example.org or Don Markley or Glenn Garmont The Piacente Group 212-481-2050, email@example.com