FAIRFIELD, Conn., Dec. 21, 2000 (PRIMEZONE) -- Competitive Technologies, Inc. (AMEX:CTT) announced today that on behalf of itself and its client it expects to soon file a complaint with the United States International Trade Commission (ITC). The complaint is expected to name those companies believed to be unlawfully importing products into the United States that infringe US patents held by CTT's client. CTT is a global technology commercialization firm representing technologies and inventions from leading universities and corporate clients.
Coincident with CTT's ITC filing, a complaint against these companies is expected to be filed in a United States District Court seeking damages.
The ITC has the power to issue orders directing US Customs to stop future importation of the products that infringe on the patents. The Commission is expected to make a determination whether to proceed in the investigation in about 30 days. ITC investigations are typically completed within 12 months.
About Competitive Technologies, Inc.
Competitive Technologies is a global leader in identifying, developing and commercializing innovative life sciences, physical sciences and digital technologies. Competitive Technologies' specialized expertise and experience makes it a valuable partner for inventors, companies and universities of all sizes. CTT has been responsible for closing hundreds of licensing agreements. CTT clients and licensees include: Sony, Matsushita Electric Industrial, the University of Colorado, the University of Illinois, NTRU Cryptosystems, Inc., Palatin Technologies, Inc. and Ribozyme Pharmaceuticals, Inc. Competitive Technologies, Inc. is based in Fairfield, Connecticut and has affiliates in Osaka, Japan and London, England.
Statements about the Company's future expectations, including development and regulatory plans, and all other statements in this document other than historical facts are "forward-looking statements" within the meaning of applicable Federal Securities Laws and are not guarantees of future performance. These statements involve risks and uncertainties related to market acceptance of and competition for the Company's licensed technologies and other risks and uncertainties inherent in CTT's business, including those set forth in Item 1 of the Company's Form 10-K for the year ended July 31, 2000 and other factors that may be described in CTT's filings with the SEC, and are subject to change at any time. The Company's actual results could differ materially from these forward-looking statements. The Company undertakes no obligation to update publicly any forward-looking statement.