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MONTREAL, QUEBEC–(Marketwired – Oct. 23, 2017) – Stingray (TSX:RAY.A)(TSX:RAY.B), a leading business-to-business multi-platform music and in-store media solutions provider, today announced that that the Patent Trial and Appeal Board (PTAB) of the United States Patent and Trademark Office (USPTO) has granted Stingray’s requests and initiated inter partes review (IPR) proceedings against U.S. Patent Nos. 8,769,602, 9,357,245, 7,320,025 and 9,351,045 owned by Music Choice. A ruling on Stingray’s request for an IPR in respect of Patent No. 9,414,121 is anticipated in November, 2017.
“The initiation of these IPR proceedings by the PTAB are significant decisions in favor of Stingray. While we have an abiding appreciation for the patent process in the U.S., we believe that the applicable claims of these patents are invalid for failing to be novel and/or for being obvious. We are pleased that the PTAB, by its action to institute the formal review process, agrees that there is reason to doubt the validity of the applicable claims,” stated Eric Boyko, President and Chief Executive Officer of Stingray. “While more remains to be done, this is a significant step toward invalidating the applicable claims of the Music Choice patents.”
Stingray (TSX:RAY.A)(TSX:RAY.B) is the world-leading provider of multiplatform music services and digital experiences for pay TV operators, commercial establishments, OTT providers, mobile operators, and more. Stingray’s services include audio television channels, premium television channels, 4K UHD television channels, karaoke products, digital signage, in-store music, music apps, and more. Geared towards individuals and businesses alike, Stingray reaches 400 million subscribers (or users) in 156 countries and its mobile apps have been downloaded over 90 million times. Stingray is headquartered in Montreal and currently has close to 350 employees worldwide. For more information : www.stingray.com.
This news release may contain “forward-looking information” within the meaning of applicable Canadian securities legislation. Such forward-looking information includes information with respect to Stingray’s goals, beliefs, plans, expectations, anticipations, estimates and intentions. Forward-looking information is identified by the use of terms and phrases such as “may”, “would”, “should”, “could”, “expect”, “intend”, “estimate”, “anticipate”, “plan”, “foresee”, “believe”, and “continue”, or the negative of these terms and similar terminology, including references to assumptions. Please note, however, that not all forward-looking information contains these terms and phrases. Forward-looking information is based upon a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond Stingray’s control. These risks and uncertainties could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include, but are not limited to, the risk factors identified in Stingray’s Annual Information Form (AIF) dated June 8, 2017, which is available on SEDAR at www.sedar.com. Consequently, all of the forward-looking information contained herein is qualified by the foregoing cautionary statements, and there can be no guarantee that the results or developments that Stingray anticipates will be realized or, even if substantially realized, that they will have the expected consequences or effects on Stingray’s business, financial condition or results of operation. Unless otherwise noted or the context otherwise indicates, the forward-looking information contained herein is provided as of the date hereof, and Stingray does not undertake to update or amend such forward-looking information whether as a result of new information, future events or otherwise, except as may be required by applicable law.
Senior Vice President & General Counsel
& Corporate Secretary
Stingray Digital Group Inc.
1 514-664-1244, ext. 2428
Mon, 23 Oct 2017 17:30:00 GMT