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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

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