Route1 Provides AirWatch Litigation Update
Route1 Inc. (OTCQB:ROIUF) announced on October 8, 2020, that the Federal Circuit Court of Appeals upheld the decision favoring AirWatch in the Route1 Inc. v. AirWatch, LLC patent infringement case. This ruling also affirms the order for Route1 to pay AirWatch $1,668,839.55 in attorney fees, a payment secured by a cash-collateralized bond posted by Route1 on September 22, 2020. The company is considering further legal options regarding this matter in Canada and the U.S.
- Route1 is exploring further legal options in Canada and the U.S., indicating an active approach to defending its interests.
- The court ruling confirms Route1's patent infringement claim was unsuccessful, which may undermine its competitive position.
- Route1 is obligated to pay $1,668,839.55 in attorney fees to AirWatch, which could impact its financial resources.
TORONTO, ON / ACCESSWIRE / October 8, 2020 / Route1 Inc. (OTCQB:ROIUF)(TSXV:ROI) (the "Company" or "Route1"), an advanced North American provider of data-centric business empowerment solutions, today announced that the Federal Circuit Court of Appeals issued its decision in Route1 Inc. v. AirWatch, LLC, affirming the prior decision of the United States District Court for the District of Delaware granting summary judgment to AirWatch on Route1's claim for infringement of the 7,814,216 Patent. The Company is considering its options with respect to the litigation in Canada and the United States in light of this decision.
This decision of the Court does not affect the appeal filed by Route1 on September 22, 2020 with respect to the order of the United States District Court for the District of Delaware granting AirWatch's motion for attorneys' fees in part and denying it in part, ordering a payment to AirWatch in the amount of
Route1 Inc. is an advanced North American technology company that empowers their clients with data-centric solutions necessary to drive greater profitability, improve operational efficiency and gain sustainable competitive advantages, while always emphasizing a strong cybersecurity and information assurance posture. Route1 delivers exceptional client outcomes through real-time secure delivery of actionable intelligence to decision makers, whether it be in a manufacturing plant, in-theater or in a university parking lot. Route1 is listed on the OTCQB in the United States under the symbol ROIUF and in Canada on the TSX Venture Exchange under the symbol ROI. For more information, visit: www.route1.com.
For More Information, Contact:
Tony Busseri
President and Chief Executive Officer
+1 480 500-7030
tony.busseri@route1.com
This news release, required by applicable Canadian laws, does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
© 2020 Route1 Inc. All rights reserved. No part of this document may be reproduced, transmitted or otherwise used in whole or in part or by any means without prior written consent of Route1 Inc. See https://www.route1.com/terms-of-use/ for notice of Route1's intellectual property.
This news release may contain statements that are not current or historical factual statements that may constitute forward-looking statements or future oriented financial information. These statements are based on certain factors and assumptions, including, price and liquidity of the common shares, expected financial performance, expected subscribers and subscription-based revenue, business prospects, technological developments, development activities, the ability of the Company to obtain the supersedeas bond in order to appeal the decision to the United States Court of Appeals for the Federal Circuit, and like matters. While Route1 considers these factors and assumptions to be reasonable, based on information currently available, they may prove to be incorrect. These statements involve risks and uncertainties, including but not limited to the risk factors described in reporting documents filed by the Company. Actual results could differ materially from those projected as a result of these and other risks and should not be relied upon as a prediction of future events. The Company undertakes no obligation to update any forward-looking statement or future oriented financial information to reflect events or circumstances after the date on which such statement is made, or to reflect the occurrence of unanticipated events, except as required by law. Estimates used in this presentation are from Company sources. Past or forecasted performance is not a guarantee of future performance and readers should not rely on historical results or forward-looking statements or future oriented financial information as an assurance of future results.
SOURCE: Route1 Inc.
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