Immersion Corporation (NASDAQ: IMMR), the leader in touch feedback technology development and licensing, today announced it is seeking termination of the International Trade Commission’s investigation of HTC Corporation for infringement of certain of Immersion’s patents and instead will ask for the stay of its lawsuit in the U.S. District Court to be lifted, so that Immersion may prosecute its claim against HTC for damages immediately. The ITC action was originally scheduled for final determination on October 28, 2013, after which the only remedy available to Immersion is an exclusion order against HTC preventing the importation of infringing devices into the United States. By contrast, the remedy available in U.S. District Court includes damages, attorneys’ fees, and potentially injunctive relief.
“Given HTC’s recent performance in the mobile market, we believe an exclusion order preventing HTC from importing infringing devices would no longer be an impactful win, and we are turning our energies to seeking damages for past and ongoing shipments of infringing devices,” said Immersion CEO Victor Viegas. “Due to this change in forum, we anticipate our legal expenses for 2013 will be lower than forecasted and our potential recovery of damages will accelerate by at least six months,” concluded Mr. Viegas.
About Immersion ( www.immersion.com )
Founded in 1993, Immersion (NASDAQ: IMMR) is the leading innovator in haptic technology; the company's touch feedback solutions deliver a more compelling sense of the digital world. Using Immersion's high-fidelity haptic systems, partners can transform user experiences with unique and customizable touch feedback effects; excite the senses in games, videos and music; restore "mechanical" feel by providing intuitive and unmistakable confirmation; improve safety by overcoming distractions while driving or performing a medical procedure; and expand usability when audio and visual feedback are ineffective. Immersion's TouchSense technology provides haptics in mobile phone, automotive, gaming, medical and consumer electronics products from world-class companies. With over 1,300 issued or pending patents in the U.S. and other countries, Immersion helps bring the digital universe to life. Hear what we have to say at blog.immersion.com.Forward-looking Statements This press release contains "forward-looking statements" that involve risks and uncertainties as well as assumptions that, if they never materialize or prove incorrect, could cause the results of Immersion Corporation and its consolidated subsidiaries to differ materially from those expressed or implied by such forward-looking statements.
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