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Magseis Fairfield ASA

12/02/2019 | Press release | Distributed by Public on 12/02/2019 15:04

Update on Patent Litigation between Magseis Fairfield and Seabed Geosolutions

Update on Patent Litigation between Magseis Fairfield and Seabed Geosolutions

Magseis Fairfield has alleged that Seabed Geosolutions' MANTA system infringes four U. S. patents (numbered RE45,268; 9,829,589; 8,879,362; and 8,228,761) in a lawsuit pending in the U.S. District Court for the Southern District of Texas. In 2018 Seabed filed petitions with the Patent Trial and Appeal Board ('PTAB') of U.S. Patent and Trademark Office ('USPTO') for inter partes review ('IPR') of the four asserted patents. The PTAB denied institution of IPR against U.S. Patent No. 9,829,589 and instituted IPR for the other three patents. The U.S. District Court subsequently stayed the patent infringement suit against Seabed pending resolution of the IPR proceedings. In November of 2019 the PTAB issued final written decisions on two IPRs, upholding the validity of claim 8 of U.S. Patent No. 8,226,761. Magseis Fairfield is currently considering an appeal of the decisions to invalidate claims of U.S. Patent No. 8,879,362 and U.S. Patent No. 8,226,761. The IPR against U.S. Patent No. RE45,268 remains pending with a decision expected shortly. Magseis Fairfield looks forward to continuing its patent lawsuit against Seabed with all valid patent claims, including those of U.S. Patent No. 9,829,589, and will continue to seek all available remedies for Seabed's past and ongoing infringement, including lost profits, a reasonable royalty, and an injunction against the MANTA system. For further information, please contact: Carel Hooijkaas, CEO Tel: +47 480 49 277 Email: [email protected] or Mark Ivin, CFO Tel: +47 948 88 606 Email: [email protected] * * * This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. Magseis Fairfield is the global leading provider of ocean bottom seismic (OBS) technology and data acquisition projects. The company has a flexible business model with full scale node operations, as well as lease and sale models. The Marine Autonomous Seismic System 'MASS' nodes and the range of Z-nodes combined with handling systems and source technology enables market leading deployment speed and highly cost-efficient acquisition of data with exceptional quality. The Company is headquartered in Oslo, Norway and has offices in US, Sweden, UK, Brazil and Singapore.