CGG Veritas: US Court Partially Overturns Unit Patent Ruling
September 21 2010 - 3:25AM
Dow Jones News
French geophysical company CGG Veritas SA (GA.FR) said Tuesday
that a Federal District Court in Texarkana, Texas, has overturned
an initial jury's verdict that its subsidiary, Sercel Inc.,
infringed a U.S. patent.
The court overturned a jury's ruling that its subsidiary, Sercel
Inc., infringed a U.S. patent on digital captors for ocean bottom
cables on one theory of infringement claimed by ION Geophysical
Corp. (IO).
The court also sustained the jury's verdict on another theory of
infringement and the validity of the patent, CGG Veritas said.
Further, the court determined that ION wasn't entitled to the
$25.2 million in lost profits awarded by the jury, and reduced the
damages award to $10.7 million, the group said.
Sercel and ION will have 30 days to negotiate the terms of, and
the sole activities that would be subject to, an injunction.
The court will enter a final judgment after these negotiations
are completed, but no later than 30 days.
"Sercel continues to believe that ION's remaining infringement
claim is without merit," CGG Veritas said.
Company website: www.cggveritas.com
-By Geraldine Amiel, Dow Jones Newswires; +33 1 4017 1740;
geraldine.amiel@dowjones.com
ION Geophysical (NYSE:IO)
Historical Stock Chart
From Aug 2024 to Sep 2024
ION Geophysical (NYSE:IO)
Historical Stock Chart
From Sep 2023 to Sep 2024