Big $COPY lawsuit news out this morning: Files Patent Infringement Lawsuits Against 10 Largest U.S. Airlines
MELVILLE, NY--(Marketwired - August 21, 2013) - CopyTele, Inc. ("CTI") (COPY), a company specializing in patent monetization and patent assertion, today announced that its wholly owned subsidiary, Loyalty Conversion Systems Corporation, filed patent infringement lawsuits in the Federal District Court for the Eastern District of Texas against 10 of the largest U.S. airlines in connection with their frequent flyer programs. Defendants in the lawsuits include Alaska Airlines, American Airlines, Delta Airlines, Frontier Airlines, Hawaiian Airlines, JetBlue Airways, Southwest Airlines, Spirit Airlines, United Airlines, and U.S. Airways.
Robert Berman, CTI's President and CEO stated, "Although some airlines have had financial difficulties in recent years, frequent flyer programs generate billions of dollars in annual revenue and continue to be extremely profitable. To further increase profits from these programs, most airlines now operate coalition programs, which allow customers to convert points and other rewards from partner programs, into frequent flyer miles. Because program partners pay money to the airline for each point converted, these transactions are extremely profitable for the airlines. The 16 patents in our Loyalty Conversion Systems patent portfolio cover numerous aspects of the points conversion processes, which are used by both the airlines and their partners."
In addition to airlines, coalition awards programs are extremely popular across the hotel, credit card, rental car, grocery, and pharmacy industries.
Since announcing its new business model in October of 2012, CopyTele now has 20 active lawsuits across 5 patented technology areas, including: E-Paper Electrophoretic Displays; Nano Field Emission Displays; Key Based Web Conferencing Encryption; J-Channel Window Frame Construction; and Loyalty Conversion Systems.
About CopyTele, Inc.
CopyTele develops and acquires patented technologies for the purposes of patent monetization and patent assertion. The company currently has 6 patent portfolios in the areas of Key Based Web Conferencing Encryption, E-Paper® Electrophoretic Display, Nano Field Emission Display ("NFED"), Micro Electro Mechanical Systems Display ("MEMS"), Loyalty Point Conversion Systems, and J-Channel Window Frame Construction. Additional information is available at www.CTIpatents.com.
Forward-Looking Statements: Statements that are not historical fact may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of historical facts, but rather reflect CopyTele's current expectations concerning future events and results. We generally use the words "believes," "expects," "intends," "plans," "anticipates," "likely," "will" and similar expressions to identify forward-looking statements. Such forward-looking statements, including those concerning our expectations, involve risks, uncertainties and other factors, some of which are beyond our control, which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. These risks, uncertainties and factors include, but are not limited to, those factors set forth in "Item 1A - Risk Factors" and other sections of our Annual Report on Form 10-K for the fiscal year ended October 31, 2012 as well as in our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. You are cautioned not to unduly rely on such forward-looking statements when evaluating the information presented in this press release.
Contact:
Ron Tenio
631-549-5900
rtenio@CTIpatents.com
