Valence Technology Announces Ruling in United States Patent Infringement Lawsuit (VLNC)

Valence Technology, Inc. (NASDAQ: VLNC) announces the ruling from U.S. District Court Judge Sam Sparks accepting the Special Master's Markman Report. The ruling on April 27, 2011, was in a patent infringement lawsuit filed by Hydro-Quebec against Valence regarding the Company's lithium phosphate products. The lawsuit has been previously disclosed by Valence. A Scheduling Order was also issued by the Court setting a trial date in October 2012. Valence believes the adoption of the Special Master's Report setting the definitions for terms in the claims of the two patents in suit is favorable to Valence's positions of non-infringement and invalidity as set out in Valence's pleadings in the lawsuit.