PARKERVISION INC
For the period ended Nov 13, 2024. Filed Nov 13, 2024.
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A notice of a major event between regular reports, such as results, a deal or a change of executives. It is often the first formal record of the news.
Nov 13, 2024 · Filed Nov 13, 2024
Contents
EX-99.1 · 2024 Summary and Recent Developments
*** 2024 Summary and Recent Developments***
| ● | In September 2024, the Company received a favorable decision from the United States Court of Appeals for the Federal Circuit (CAFC) in ParkerVision v. Qualcomm and the case has been remanded back to the Middle District of Florida, Orlando division for trial. |
| ● | The parties have requested a scheduling conference in December 2024 to determine any remaining issues for resolution prior to trial and to establish a trial calendar. |
| ● | Including the Qualcomm case in Orlando, Florida, the Company has 13 total patent infringement cases against seven different defendants, including four currently scheduled for jury trials in the Western District of Texas in 2025. |
| ● | On November 4, 2024, the Company filed a petition for Writ of Certiorari with the United States Supreme Court challenging the CAFC's practice of issuing summary affirmations rather than opinions. |
| ● | This petition stems from two CAFC rulings in June 2024 affirming the PTAB invalidation of portions of two of the Company's patents that were challenged in IPRs by TCL and LGE. |
Jeffrey Parker, CEO of ParkerVision, commented, “In September, ParkerVision received a long-awaited ruling from the CAFC in our patent infringement case against Qualcomm. The court agreed with ParkerVision on all three issues under appeal and provided supporting guidance on each. We are now seeking a jury trial in this case in the Middle District of Florida. We believe the CAFC’s detailed opinion will be helpful in resolving disputes and clarifying key issues remaining between the parties, and we look forward to bringing this case to trial after a lengthy ten-year wait."
Mr. Parker continued, "The CAFC decision to remand the Qualcomm case back to district court results in an increase in our estimated probability of the future collection of damages from Qualcomm. Accordingly, the estimated fair value of our secured contingent payment obligation to our litigation funder increased by approximately $10 million this quarter, bringing it back in line with the estimated value of this obligation in early 2022, prior to the district court's now vacated summary judgment ruling."
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