DECISION DIAGNOSTICS CORP. (DECN) OFFERS UPDATE ON LEGAL PROCEEDINGS, OUTCOMES, HISTORY & SYNOPSIS ON ITS STRATEGIC SUIT VS. ...
01 November 2017 - 3:15PM
InvestorsHub NewsWire
Company Believes That November 17 Hearing in
Nevada Federal Court Will Set The Underpinnings For a Quick &
Lucrative Outcome of Its Patent Infringement
Suit
Los Angeles, CA -- November 01, 2017 --
InvestorsHub NewsWire -- Decision Diagnostics Corp. (OTC PINK:
DECN) is the manufacturer, quality plan administrator, FDA
registered medical device support organization, and exclusive
worldwide sales and regulatory process agent for the GenUltimate!™
(our “Sunshine”) diabetes test strip and now the internationally
launched GenSure!™ (the “Feather”) strip and the final development
of GenChoice!™ (the “Ladybug”) and GenPrecis!™ (the “Dragonfly”)
test strip and meter. DECN discusses the status and probable
outcomes in the pending November 17, 2017 court hearing in its
litigation against Johnson & Johnson and several of their
operating divisions (“J&J”).
History
J&J attacked the Company in 2011 in an
obvious attempt to remove the company’s feature rich and
significantly less expensive GenUltimate!™ product from the
competitive landscape. The Company prevailed in the suit
involving three separate patents filed by J&J and subsequently
filed its own lawsuit in March, 2016 in a different legal venue
than the California 9th circuit.
In March 2016 DECN, through its technology
subsidiaries, filed suit in the Nevada District Court against
J&J for infringement of two patents owned by DECN subsidiaries.
In March 2017 the trial judge in the Nevada court granted DECN the
ability to amend their patent infringement claims, using the
influential Doctrine of Equivalents (“DOE”). DOE is the
adjustable crescent wrench tool used in certain types of patent
infringement cases. The scheduled hearing on November 17, 2017 will
determine the course of the litigation.
Potential
Outcomes
Although there are many combinations of
potential outcomes, the Company has chosen three that are most
likely, presented in order of likelihood and
preference.
1) The Company may win at the November 17
hearing, where the outcome is a judge’s ruling that is structured
to identify the overall weakness in J&J’s defense, thereby
signaling to both parties that continuing litigation to its
conclusion would add or subtract very little, and DECN’s use of the
Doctrine of Equivalents would greatly raise the value of the case
for DECN. This type of court ruling would offer a quick path to
mediation and settlement which would positively and immediately
impact the company’s market cap.
2) The company may win at the hearing on
November 17 but the judge’s written ruling could suggest that the
case, while moving directly in DECN’s favor (two J&J motions
denied), is not yet crystal clear and more discovery will be
required. This outcome would force an internal evaluation of
the distraction of continued litigation following shortly after the
recent conclusion of seven long and costly years of legal battle.
Consideration might be given to entertaining offers of a
global settlement to litigation. While this could represent a very
positive outcome for DECN (with the company in control of a
3-0 record against J&J), the BOD does not believe this to be
the most fertile channel.
3) J&J filed for the Summary Judgement
ruling and they could temporarily prevail. The Company believes,
however, that the case is sufficiently compelling that it prevails
on the J&J Motion outright. If the unlikely occurs, the Company
feels strongly that it can have the ruling overturned on appeal in
the U.S. Court of Appeals for the Federal Circuit in Washington DC;
the higher court venue where the Company twice previously prevailed
against J&J.
Keith Berman, CEO commented, “We are quite
confident in our current legal position and believe that the recent
exchange of pleadings has convinced the judge of the legitimacy of
our action. We strongly believe that the judge’s ruling
will clearly identify the inherent weakness in J&J’s defense.
We look forward to wrapping up lawsuits and focusing on core
business activities especially with our panacea product
GenPrecis!™ only several months away.”
DECN has become a leading manufacturer and
worldwide distributor of diabetic test strips engineered to operate
on legacy glucose meters. DECN’s products are designed to
operate efficiently and less expensively on certain glucose meters
already in use by almost 6.5 million diabetics worldwide. Its
GenSure!™ (the “Feather”) strip and the final development of its
GenChoice!™ (the “Ladybug”) strip will be sold in International
markets beginning in January 2018. It’s GenPrecis!™ (the
“Dragonfly”) test strip and meter will be sold in International
venues in late Spring 2018. In addition, the company plans to
file with the U.S. FDA in late January and February respectively
for 510K clearance to sell its GenPrecis!™ and
GenChoice!™ products in U.S. markets.
Forward-Looking
Statements:
This release contains the company's
forward-looking statements which are based on management's current
expectations and assumptions as of October 30, 2017, regarding the
company's business and performance, its prospects, current factors,
the economy, and other future conditions and forecasts of future
events, circumstances, and results.
CONTACT INFORMATION:
Decision Diagnostics Corp.
Keith Berman (805) 446-2973
Joanne Broeders (305) 340-1000
Decision Diagnostics (CE) (USOTC:DECN)
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