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Adeia Receives Decisions in Videotron and Bell/Telus Case Appeals
Favorable Rulings on Key Legal Issues SAN JOSE, Calif., Aug. 19, 2024 (GLOBE NEWSWIRE) -- Adeia Inc. (Nasdaq: ADEA) (“Adeia” or “Company”), the company
About this update from Adeia Inc.
[{"type":"text","content":"Favorable Rulings on Key Legal Issues\nSAN JOSE, Calif., Aug. 19, 2024 (GLOBE NEWSWIRE) -- Adeia Inc. (Nasdaq: ADEA) (“Adeia” or “Company”), the company delivering innovative technology solutions across multiple industries, today announced that the Canadian Court of Appeals has issued its rulings in the Company's appeals of both the Videotron and Bell/Telus cases. Importantly, the Court agreed with the Company on several key issues, finding that the lower court erred in multiple aspects of its analysis relating to royalty-based damages, accounting of profits and injunctions, which ultimately supports patent rights and the patent licensing environment in Canada. While the Court upheld the invalidity findings of the lower court related to the patents at issue in those cases, the Company believes the otherwise favorable rulings will be beneficial in the Company’s second phase of cases against Videotron and Bell scheduled to go to trial in 2025 and in its licensing efforts generally in Canada. “We are very pleased with the Court’s rulings on key issues that support our licensing practices in Canada and believe the Court's decisions in both cases positively contribute to the evolving landscape of patent law in Canada,” said Kevin Tanji, chief legal officer at Adeia. “We look forward to pursuing our rights in light of these rulings in our second phase of cases against Videotron and Bell. We remain committed to protecting our intellectual property and will continue to seek market-based licenses with the Canadian Pay-TV operators that cover our innovations which have helped shape the digital entertainment landscape.” “Although we didn’t achieve the full outcome we sought, we’re pleased with the Court's guidance on key patent-related issues in both the Videotron and Bell/Telus rulings,” added Keith A. Jones, chief financial officer at Adeia. “Importantly, these decisions do not affect our 2024 guidance and we continue to believe we have a significant opportunity in Canada.” About Adeia Adeia is a leading R&D and intellectual property (IP) licensing company that accelerates the adoption of innovative technologies in the media and semiconductor industries. Adeia’s fundamental innovations underpin technology solutions that are shaping and elevating the future of digital entertainment and electronics. Adeia’s IP portfolios power the connecte...