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Amphion Innovations PLC unit's settlement cost lower than expected

“Settling the BRG obligation and transferring the liability to Amphion will allow DataTern to obtain non-recourse litigation financing so that it may continue its patent litigation programme,” said Amphion in a stock exchange statement.

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Both sides have come to a settlement.

A claim against an Amphion Innovations PLC (LON:AMP) subsidiary has been settled at a lower than expected cost.

Amphion has agreed to pay US$1.575mln on behalf of unit DataTern in three tranches to Berkeley Research Group (BRG).

The initial liability, set after arbitration, was a little under US$2.1mln.

Amphion will pay the cash, due at the end of the month, the end of June and end of the year using a loan facility.

“Settling the BRG obligation and transferring the liability to Amphion will allow DataTern to obtain non-recourse litigation financing so that it may continue its patent litigation programme,” said Amphion in a stock exchange statement.

Quick facts: Amphion Innovations PLC

Price: 0.15 GBX

AIM:AMP
Market: AIM
Market Cap: £314.96 k
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Amphion Innovations hails favourable court ruling

Richard Morgan, chief executive of Amphion Innovations (LON:AMP), explains the ins and outs of the ruling it has received in a US federal court relating to its patented intellectual property. He tells Proactive Investors that the company has been striving to protect a software patent related...

on 04/14/2014

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