CTS Continues Its Patent Infringement Litigation with TK Holdings
CTS Corporation (NYSE: CTS) today announced that it is continuing its 2007 patent infringement litigation against TK Holdings, Inc. in the U.S. District Court in Detroit, Michigan. CTS originally put Takata on notice of patent infringement in late 2005. From then to present, Takata has sold products, estimated to exceed $100 million, which CTS believes are covered by several of CTS' vehicle occupant seat weight sensor patents. An estimate of the typical royalties for intellectual property use/infringement, for these types of products, range from about 3% - 5%.
During 2010, the Court issued an order adopting CTS' interpretation of the claims of two of CTS' patents. Fact discovery and depositions were completed in March 2012. A patent claim interpretation hearing is scheduled in May 2012 and is expected to be followed by scheduling orders for expert discovery and potential trial, if no settlement between parties is reached.
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