Forgent Retains New Legal Counsel for DVR Patent Litigation
AUSTIN, TX, Apr 27, 2006 (MARKET WIRE via COMTEX News Network) -- Forgent Networks (NASDAQ: FORG) today announced it has added Hagans Burdine Montgomery Rustay & Winchester, P.C. and Bracewell & Giuliani, L.L.P. to its legal team regarding the licensing and litigation of United States Patent No. 6,285,746 (the '746 Patent). Hagans Burdine is a Houston, Texas, law firm that represents parties in commercial and personal injury cases. The firm has handled a wide variety of commercial litigation and arbitrations, including cases involving patent infringement and misappropriation of intellectual property. Bracewell & Giuliani is a national law firm with over 350 attorneys practicing in Texas, Washington D.C., New York and London. Bracewell & Giuliani's trial and intellectual property lawyers have prosecuted and defended patent-related claims throughout the United States. Hagans Burdine will act as lead counsel. The Roth Firm will remain as local counsel in Marshall, Texas. Forgent has pending litigation against approximately 13 companies for infringement of the '746 Patent in the United States District Court, Marshall Division.
"We believe that the '746 Patent is valid and enforceable. The hiring of this new team with deep litigation and licensing experience is evidence of that commitment," said Richard Snyder, chairman and CEO of Forgent.
"Forgent's '746 Patent case is the kind of litigation we like, and we look forward to bringing significant value to the licensing and litigation process," replied Fred Hagans.
Under the new agreement the company will keep 60% of all licensing and litigation revenue, as with its previous agreement with prior counsel. Forgent will have no financial obligations to its prior counsel.
Since its inception over three years ago, Forgent's intellectual property program has generated more than $105 million in revenues primarily from licensing the U.S. Patent 4,698,672. The company's patent portfolio includes the combined inventions of Compression Labs, Inc., VTEL Corporation, and Forgent Networks, Inc.
Forgent Networks (NASDAQ: FORG) develops and licenses intellectual property and provides scheduling software to a wide variety of customers. Forgent's intellectual property licensing program is related to communication technologies developed from a diverse and growing patent portfolio. Forgent's software division, NetSimplicity provides a spectrum of scheduling software that enables all sizes of organizations to streamline the scheduling of people, places and things. For additional information please visit www.forgent.com.
This release may include projections and other forward-looking statements that involve a number of risks and uncertainties and as such, actual results in future periods may differ materially from those currently expected or desired. Some of the factors that could cause actual results to differ materially include changes in the general economy and the technology industry, rapid changes in technology, sales cycle and product implementations, risks associated with transitioning to a new business model and the subsequent limited operating history, the possibility of new entrants into the collaboration management market, the possibility that the market for the sale of certain software and services may not develop as expected; that development of these software and services may not proceed as planned, risks associated with the company's license program, including risks of litigation involving intellectual property, patents and trademarks, acquisition integration, and the ability to consummate certain divestiture transactions. Additional discussion of these and other risk factors affecting the company's business and prospects is contained in the company's periodic filings with the SEC.
SOURCE: Forgent Networks