Navigation Links
Memry Corporation Plans to Appeal Unfavorable Court Result
Date:12/21/2007

Jury Verdict Finds in Favor of Kentucky Oil

BETHEL, Conn., Dec. 21 /PRNewswire-FirstCall/ -- Memry Corporation (Amex: MRY), a leading provider of nitinol and polymer components to the medical device industry, announced today that it has received an unfavorable jury verdict in its disputed technology litigation with Kentucky Oil. The jury unanimously found that Memry breached a collaboration agreement by providing confidential information to Schlumberger Technologies Corporation for use in an expandable sand screen and found Memry's interest in certain patents should be assigned to Kentucky Oil. The collaboration agreement was entered into with Kentucky Oil's alleged predecessor in interest in 1999, known as United Stenting, Inc. The jury found damages of $6 million for the alleged breach. The jury also determined that Schlumberger used confidential information in its development of the expandable sand screen.

The court has not entered judgment and has set a hearing date on January 25, 2008 to hear Memry's and Schlumberger's trial motions concerning, among other things, the sufficiency of Kentucky Oil's evidence.

Memry CEO Robert Belcher said, "We have long maintained that Kentucky Oil's claim for damages is totally without merit. Although today's jury ruling is a setback, we will vigorously defend our position and we plan to appeal any adverse final trial court ruling."

About Memry Corporation

Memry Corporation provides design, engineering, development and manufacturing services to the medical device and other industries using the company's proprietary shape memory alloy and polymer extrusion technologies. Medical device products include stent components, catheter components, guidewires, laparoscopic surgical sub-assemblies and orthopedic instruments as well as complex, multi-lumen, multi-layer polymer extrusions used for guidewires, catheters, delivery systems and various other high-end interventional medical devices. Detailed information about Memry Corporation can be found at http://www.memry.com.

An investment profile on Memry may be found at http://www.hawkassociates.com/mryprofile.aspx.

For more information, contact CFO Richard F. Sowerby at 203-739-1100, e- mail: Richard_Sowerby@Memry.com or Frank Hawkins or Julie Marshall, Hawk Associates, at 305-451-1888, e-mail: info@hawkassociates.com. Detailed information about Memry Corporation can be found at http://www.memry.com. Copies of Memry Corporation press releases, SEC filings, current price quotes, stock charts and other valuable information for investors may be found at http://www.hawkassociates.com and http://www.americanmicrocaps.com. To receive e-mail notification of future Memry news releases, sign up at http://www.hawkassociates.com/email.aspx.

This release contains certain forward-looking statements which involve known and unknown risks, uncertainties or other factors not under the company's control, which may cause actual results, performance or achievements of the company to be materially different from the results, performance or other expectations implied by these forward-looking statements. These factors include, but are not limited to, those detailed in the company's periodic filings with the Securities and Exchange Commission.


'/>"/>
SOURCE Memry Corporation
Copyright©2007 PR Newswire.
All rights reserved

Related medicine news :

1. Memry Corporation Announces Fiscal Fourth Quarter and 2007 Year End Earnings Release and Conference Call
2. Memry Corporation FY 2007 Revenues $51.7M; Net Income $317,000 or $0.01 Per Share
3. The ScottCare Corporation Completes Acquisition of Rozinn Electronics, a Leading Manufacturer of Cardiac Diagnostic Products
4. Brooke Franchise Corporation Announces Selected July Results
5. MedThink Communications Retained by NanoBio Corporation
6. EaglePicher Corporation Completes Transaction to Sell EaglePicher Boron, LLC to Ceradyne, Inc. for $69 Million
7. Dana Corporation, Inc. Enters Into Settlement Agreement With Dana Retiree Committee
8. Somanetics Corporation to Release Third Quarter 2007 Financial Results and Host Conference Call September 19
9. LifeQuest World Corporation Proud Contributor to Dietary Supplement Education Alliance (DSEA)
10. DTI Medical Corporation Announces Reverse Split and Other Corporate Developments
11. STERIS Corporation Board of Directors Names Walter M. Rosebrough Jr. President and Chief Executive Officer
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/28/2017)... ... June 28, 2017 , ... American Farmer proudly announces the participation of ... winning television series, scheduled to broadcast fourth quarter 2017. American Farmer airs Tuesdays at ... supplier of garden pea seed. As demand grew, the small company located in Moscow, ...
(Date:6/28/2017)... ... June 28, 2017 , ... Designers Insurance ... communities in northern Virginia and DC, is announcing a cooperative charity event in ... Alzheimer’s and other disorders that lead to memory impairment. , The Insight Memory ...
(Date:6/27/2017)... ... ... Harbour , a DAO (decentralized autonomous organization) that harnesses the wisdom ... technical specifications . , 2017 has seen an explosion of token launches by ... offerings will garner the greatest ROI. Dean Eigenmann, Co-founder and CEO of Harbour, said, ...
(Date:6/27/2017)... ... June 27, 2017 , ... A January 18th article on medGadget ... $6.81 billion by the year 2024 according to a new report. The article also ... made from titanium. Los Angeles area clinic Beverly Hills Periodontics & Dental Implant Center ...
(Date:6/27/2017)... , ... June 27, 2017 , ... ... Fabrykiewicz Scholarship Foundation Fundraiser hygiene symposium in Mystic, CT. Covering the process and ... offered their experience in these popular periodontal procedures. Drs. Toback and Urbanski practice ...
Breaking Medicine News(10 mins):
(Date:5/26/2017)... -- Endo International plc (NASDAQ: ENDP ) announced today ... the Company in a fireside chat at Goldman Sachs, 38 ... 2017 at 10:40 a.m. PT / 1:40 p.m. ET. The ... Rancho Palos Verdes, CA. A live ... on the Company,s website at http://www.endo.com/investors/overview . Participants should ...
(Date:5/23/2017)... PLEASANTON, Calif. , May 23, 2017 /PRNewswire/ ... world,s most innovative medical devices for pressure ulcer ... at the American Association of Critical Care Nurses, ... Houston May 22-25. The Leaf Patient ... designed specifically for the hospital environment.  The system ...
(Date:5/18/2017)...  Two Bayer U.S. Pharmaceutical leaders received top awards ... 28 th Woman of the Year ... longstanding mission of furthering the advancement and impact of ... Cindy Powell-Steffen , senior director of brand activation and ... Libby Howe , a regional business manager for New ...
Breaking Medicine Technology: