Catch the Wind Provides OADS Litigation Update
08 November 2011 - 4:11PM
PR Newswire (Canada)
CHANTILLY, VA, Nov. 8, 2011 /CNW/ - Catch the Wind Ltd. , providers
of laser-based wind sensor products and technology, announced today
that in connection with the preliminary injunction filed by the
Company in the Circuit Court for Prince William County, Virginia,
against Optical Air data Systems, LLC ("OADS") and Philip L.
Rogers, the former President and CEO of the Company, it has
received a copy of a counterclaim filed by OADS and Mr. Rogers
against the Company, pursuant to which Mr. Rogers has asserted a
claim for severance under his employment agreement and OADS has
asserted a claim for breach of the sublease agreement between the
Company's wholly-owned subsidiary and OADS. The Company believes
that the claims made by Mr. Rogers and OADS are without
merit. The Circuit Court for Prince William County has
temporarily stayed all of the actions in these proceedings pending
the outcome of court ordered mediation. About Catch the Wind Ltd.
Catch the Wind Ltd. is a high-growth technology company
headquartered in Chantilly, Virginia. The Company was founded in
2008 to develop and manufacture the Vindicator® laser wind sensor.
Catch the Wind serves the commercial market sector for laser based
wind sensor systems, recognized as the "gold standard" in wind
measurement. The Company is focused on becoming a major
contributor in making clean, renewable wind energy more affordable
and profitable. For more information, please visit
www.catchthewindinc.com and follow us at
www.twitter.com/Catchthewindinc. Forward-Looking Information This
news release includes certain forward-looking statements within the
meaning of Canadian securities laws. Forward-looking statements
involve risks, uncertainties and other factors that could cause
actual results, performance, prospects and opportunities to differ
materially from those expressed in such forward-looking statements.
Forward-looking statements in this news release, include, but are
not limited to, economic performance and future plans and
objectives of Catch the Wind. Any number of important factors could
cause actual results to differ materially from these
forward-looking statements as well as future results. Although
Catch the Wind believes that the assumptions and factors used in
making the forward-looking statements are reasonable, undue
reliance should not be placed on these statements, which only apply
as of the date of this news release, and no assurance can be given
that such events will occur in the disclosed timeframes or at all.
Catch the Wind disclaims any intention or obligation to update or
revise any forward-looking statement, whether as a result of new
information, future events or otherwise. Neither 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. Catch
the Wind Ltd. CONTACT: Catch the Wind Ltd. TMX EquicomClaudia
Jaques Philip DaleVice President and General Investor
RelationsCounsel 416-815-0700 ext.703-956-6554 253
cjaques@catchthewindinc.com pdale@equicomgroup.com
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