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CGG Veritas: US Court Partially Overturns Unit Patent Ruling

PARIS -(Dow Jones)- 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

Stock News for Input Output (IO)
DateTimeHeadline
08/04/201610:32:46Quarterly Report (10-q)
08/04/201609:05:57Current Report Filing (8-k)
08/03/201618:14:00ION reports second quarter 2016 results
08/01/201619:15:00ION announces second quarter 2016 earnings and conference call...
07/06/201615:12:24Amended Statement of Changes in Beneficial Ownership (4/a)
06/30/201617:25:35Statement of Changes in Beneficial Ownership (4)
06/27/201615:46:43Amended Annual Report (10-k/a)
06/02/201616:32:04Statement of Changes in Beneficial Ownership (4)
06/02/201616:31:12Statement of Changes in Beneficial Ownership (4)
06/02/201616:30:20Statement of Changes in Beneficial Ownership (4)
06/02/201616:29:27Statement of Changes in Beneficial Ownership (4)
06/02/201616:28:37Statement of Changes in Beneficial Ownership (4)
06/02/201616:13:38Current Report Filing (8-k)
06/02/201612:45:33Statement of Changes in Beneficial Ownership (4)
05/23/201616:30:15Specialized Disclosure Report (sd)
05/18/201616:15:12Current Report Filing (8-k)
05/05/201611:22:14Quarterly Report (10-q)
05/05/201609:20:04Current Report Filing (8-k)
05/04/201617:49:00ION reports first quarter 2016 results
05/03/201617:01:00ION to conduct ocean bottom seismic survey offshore Nigeria

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