Document Security Systems Suing Coupons.com for Approximately $240-300M; Hearing Moved Up ~2 Months
Document Security Systems (NYSE: DSS) announced today that its hearing in connection with the company's pending litigation matter involving Coupons.com has been moved up from October 9th, 2012 to August 16th, 2012. After the recent press release, Benzinga reached out to a corporate spokesperson for Document Security Systems who clarified that the lawsuit for Coupons.com involves $40-45M per year retroactive to 2006, or approximately $240-300M in total. The current market capitalization of Document Security Systems is $80.7M.
In October 2011, Document Security Systems filed a lawsuit against Coupons.com alleging that Coupons.com "misappropriated" Document Security Systems' trade secrets and "breached confidentiality agreements." The suit involves Document Security Systems' proprietary digital copy protection technology. In the lawsuit, Document Security Systems contends that this technology has been utilized by Coupons.com on billions of internet-generated coupons since 2006.
On April 17, 2012, CEO Patrick White stated, "It is our contention that Coupons.com has utilized a copy protection technology which DSS provided to them for review under a strict non-disclosure agreement. Our research indicates that Coupons.com has printed this particular technology on billions of internet generated coupons since 2006."
July 13, 2012
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.