JACKSONVILLE, Fla., March 28, 2016 -- ParkerVision, Inc. (NASDAQ:PRKR) (the "Company") announced today that the Supreme Court of the United States has declined ParkerVision's petition for a Writ of Certiorari requesting a review of the decision of the United States Court of Appeals for the Federal Circuit in ParkerVision v. Qualcomm. This decision brings ParkerVision's original infringement case against Qualcomm, filed in July 2011, to a close. The 2011 case resulted in a $173 million jury verdict for ParkerVision that was subsequently overturned by the district court. The Supreme Court's decision has no impact on the ongoing ITC investigation against Qualcomm, Apple, LG and Samsung initiated in January 2016.
ParkerVision CEO Jeffrey Parker stated, "We are disappointed that the Supreme Court decided not to hear and weigh-in on this important matter. The Federal Circuit's lack of respect for jury verdicts, especially those that find in favor of patent holders, undermines the property rights that innovators depend on when investing significant amounts of resources to create new inventions. Patent owners are entitled to trial by jury under the Seventh Amendment, and jury verdicts are entitled to deference. The Federal Circuit's disregard for a jury's factual findings in arriving at a verdict allows infringers to arbitrarily and unfairly capitalize on those inventions after the jury has found infringement."
Parker continued, "We
remain optimistic about our recently instituted investigation at the International Trade Commission. This investigation focuses on different patent claims and inventions than those that were asserted in the earlier litigation. The USPTO recently denied institution of Inter Parties Review of certain of our patent claims that are similar to claims asserted in the ITC Investigation. Based on the quality of the patents we asserted at the ITC, and the availability of injunctive relief, we are confident the ITC investigation will demonstrate the foundational significance and value of our patented innovations. ParkerVision is excited about the opportunity to demonstrate its technology and protect the innovations it has invested so heavily in developing."
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-G).
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, 2014 and Forms 10Q for the quarters ended March 31, June 30, and September 30, 2015. These risks and uncertainties could cause actual results to differ materially from those currently anticipated or projected.
Chief Financial Officer
The Piacente Group