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Written by THE CANADIAN PRESS
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Monday, 07 July 2008 |
TORONTO - AirIQ Inc. (TSX:IQ) says it's pleased by a decision at the U.S. Patent and Trademark Office, which has rejected an infringement claim against the company filed by LunarEye Inc.
Litigation has been suspended for 120 days or until the patent office makes a final decision, the telematics company said Monday in a release. The ruling comes after LunarEye sued AirIQ in May 2007 in the United States District Court for the Eastern District of Texas.
AirIQ denied the allegations and said the patent wasn't valid.
Over the past year, AirIQ was successful in negotiating a substantial narrowing of LunarEye's complaint to one claim of Patent No. 6,484,035.
The United States Patent and Trademarks Office recently issued an office action rejecting this single claim, AirIQ said Monday.
LunarEye has a limited time within which to respond to the patent office's action.
AirIQ says it continues to believe that LunarEye's claim is without merit.
AirIQ, a developer of wireless location-based services, specializes in telematics and security, and has offices in Pickering, Ont., near Toronto and in San Diego, Calif.
In the spring, the company announced that it was shifting its business to the United States to reduce its exposure to a soaring loonie and turn red ink into black.
It blamed a wider annual loss on foreign exchange losses and a slumping U.S. economy.
AirIQ said it lost $7.9 million, or five cents a share for the year ended Dec. 31, up from a loss of $7.6 million, or five cents, for 2006.
On the TSX Monday, AirIQ shares closed unchanged at four cents.
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Last Updated ( Sunday, 07 September 2008 )
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