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Speedus and Verizon Wireless Agree to Dismissal of Patent Suits
Friday, May 18, 2007
New York, NY -- Speedus Corp. (Nasdaq: SPDE) today announced that both it and Cellco Partnership (d/b/a Verizon Wireless) have reached a mutual agreement leading to the dismissal of the two separate complaints filed against Verizon Wireless by Speedus. No financial consideration was paid or received by either party.
The April 30, 2007 decision by the U.S. Supreme Court in KSR International Co. v. Teleflex Inc. et al has created a marked transformation in the interpretation of patents and was the impetus for this agreement. The decision is available at http://www.supremecourtus.gov/opinions/06pdf/04-1350.pdf.
Due to the existence of other litigation, no other comments will be made by Speedus.
About Speedus Corp.
Speedus is a pioneer in wireless broadband, owning both wireless spectrum and a portfolio of broadband IP. Speedus also holds controlling interests in Zargis Medical Corp. and F&B Gudtfood Holdings, Inc.
Additional information on Speedus Corp. and its services may be obtained at http://www.speedus.com/ or by contacting Peter Hodge at 888-773-3669 (ext. 23) or phodge@speedus.com.
Statements contained herein that are not historical facts, including but not limited to statements about the Company's product, corporate identity and focus, may be forward-looking statements that are subject to a variety of risks and uncertainties. There are a number of important factors that could cause actual results to differ materially from those expressed in any forward- looking statements made by the Company, including, but not limited to, the continuing development of the Company's sales, marketing and support efforts.
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