Federal Circuit Court's Mixed Ruling In Patent Appeal Case

The Spectranetics Corporation SPNC revealed Thursday that the Court of Appeals for the Federal Circuit in the United States reversed in part, as well as affirmed in part trial court rulings in respect of patent infringement.

This was in a case filed by its wholly-owned subsidiary, AngioScore Inc. against defendants Eitan Konstantino, TriReme Medical, LLC, Quattro Vascular Pte Ltd. and QT Vascular Ltd. involving claims of breach of fiduciary duty and patent infringement.

The Spectranetics said that the Appeals Court reversed the breach of fiduciary duty ruling on procedural grounds. The court found that the District Court for the Northern District of California lacked jurisdiction to hear the case and order the claim.

During the trial court ruling, it found Konstantino breached his fiduciary duties to AngioScore, which TriReme and Quattro alleged to have aided and abetted the breach. That meant tha QT Vascular was liable for the acts of TriReme and Quattro. As a result, it was granted AngioScore more than $20 million in damages.

The company stated the Federal Circuit also affirmed the trial court's ruling that the defendants were not entitled to attorneys' fees in the patent infringement case.

The Spectranetics also remained confident in the merits of the case. The company indicated that it was assessing next steps. The company added that no part of the possible financial granted with this matter was reflected in its earlier financial statements.