Court overturns decision on ION Geophysical patent infringementCompany News // September 22, 2010
CGGVeritas has†announced†that a Federal District Court in Texarkana has overturned the juryís verdict that its subsidiary, Sercel Inc, infringed US Patent No. 5,852,242 with respect to one theory of infringement supported by ION Geophysical Corporation.
The court also sustained the juryís verdict on another theory of infringement and the validity of the patent. The court determined that ION was not entitled to the US$25.2 million in lost profits awarded by the jury, and reduced the damages award to US$10.7 million.†
In addition, 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 thirty days.
Sercel continues to believe that ION's remaining infringement claim is without merit.
Sercel has the right to file an appeal to overturn those Court rulings that were not in its favour, including the courtís ruling sustaining the jury's verdict that Sercel infringed the ION patent by importing and selling a product in the US that was made in France, allegedly using the method of manufacturing in IONís patent, and the jury's verdict that the patent was not invalid despite IONís failure to disclose in the patent the best way of making the invention.†