CGGVeritas Announces Sercel to Request Court Overturn Jury Verdict
Posted on February 4, 2010 – 10:21 am | by oilandgaspress.com
CGGVeritas (ISIN : 0000120164 – NYSE : CGV) announced today that a Texarkana jury found that its subsidiary Sercel Inc. infringed on United States Patent No. 5,852,242 and that ION Geophysical Corporation is entitled to $25.2 million in lost profits.
Sercel will ask the Court to overturn the jury’s finding on several grounds, including ION’s failure to prove by a preponderance of the evidence that the patent was infringed by Sercel and the invalidity of the patent due to ION’s failure to disclose in the patent the best way of making the invention. The Court has asked the parties to brief these issues by April 2010, and Sercel does not expect any further action from the Court until this briefing is completed.
The Court had previously found the product claims of the patent invalid, and one of the claims for a method of manufacturing not infringed.
With respect to ION’s claims that the VectorSeis® technology is covered by United States Patent No. 5,852,242, this issue was not resolved and continues to be a deeply contested issue.
VectorSeis® is a registered trademark of ION Geophysical Corporation.
About CGGVeritas
CGGVeritas (www.cggveritas.com) is a leading international pure-play geophysical company delivering a wide range of technologies, services and equipment through Sercel, to its broad base of customers mainly throughout the global oil and gas industry.
CGGVeritas is listed on the Euronext Paris (ISIN: 0000120164) and the New York Stock Exchange (in the form of American Depositary Shares, NYSE: CGV).
Investor Relations Contacts:
Paris: Houston:
Christophe Barnini Hovey Cox
Tel: +33-16-447-3810 Tel: +1-832-351-8821
E-Mail: invrelparis@cggveritas.com E-Mail: invrelhouston@cggveritas.com
The information included herein contains certain forward-looking statements within the meaning of Section 27A of the securities act of 1933 and section 21E of the Securities Exchange Act of 1934.
These forward-looking statements reflect numerous assumptions and involve a number of risks and uncertainties as disclosed by the Company from time to time in its filings with the Securities and Exchange Commission. Actual results may vary materially.
Web site: www.cggveritas.com
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Tags: CGGVeritas, Sercel
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