Business
YANGAROO AND DESTINY MEDIA SETTLE LAWSUITS
Jun. 28, 2011 (Canada NewsWire Group) -- TORONTO, June 28, 2011 /CNW/ - YANGAROO Inc. , ...
About this update from Yangaroo Inc.
[{"type":"text","content":"\n\n\n Jun. 28, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nTORONTO, June 28, 2011 /CNW/ - YANGAROO Inc., (TSX-V: YOO) (OTCBB: YOOIF) the industry's leading secure digital\n media distribution company is pleased to provide an update on the\n litigation with Destiny Media Technologies, Inc. ("Destiny").\n\n\nYANGAROO and Destiny have resolved all litigation between the two\n parties. As part of the confidential agreement, the parties agree that\n all allegations of infringement and invalidity on any existing or\n pending YANGAROO patents will immediately cease. \n\n\nAs a result, Destiny will drop the Canadian patent invalidity\n proceedings and its defamation action against YANGAROO and certain of\n its officers.  YANGAROO will drop its counterclaim for patent\n infringement in Canada and drop its defamation counterclaim as against\n Destiny and its CEO.\n\n\nYANGAROO is pleased with the result as it allows YANGAROO to focus on\n its business and to provide the best services possible to its customers\n and clients. As part of the settlement, neither party will pursue legal\n fees, court costs or royalties pursuant to the above mentioned\n disputes.\n\n\nIn consideration of the settlement, YANGAROO paid Destiny a lump sum\n amount totaling $600,000 (Canadian Funds), and granted Destiny certain\n intellectual property rights relating to the two patents held by\n YANGAROO that were the subject matter of the dispute. \n\n\nAbout YANGAROO:\n\n\...