News

Material Litigation

BackFeb 02, 2016
Type Announcement
Subject MATERIAL LITIGATION
Description
PENTAMASTER CORPORATION BERHAD ("PMCB" OR "THE COMPANY") - LEGAL SUIT FILED BY PENTAMASTER INSTRUMENTATION SDN BHD, A SUBSIDIARY COMPANY OF PMCB, AGAINST QAV TECHNOLOGIES SDN BHD

For consistency purposes, the abbreviations and definitions used in this announcement shall have the same meanings as those previously defined in PMCB’s announcement dated 27 January 2016.

 

Further to the announcement made by PMCB on 27 January 2016, the Company wishes to inform that the Plaintiff sought an injunction to restrain the Defendant from infringing the Plaintiff’s patents.

The Plaintiff had also sought an Order for an investigation as to the loss suffered by the Plaintiff resulting from the Defendant’s infringing acts and payment of compensation to the Plaintiff. The amount of compensation claimed can only be determined when the investigation has been completed. The Plaintiff will be seeking for interest at the rate of 8% per annum to be charged on any and all damages awarded by the Court to the Plaintiff starting from the date of first infringement right up until the date of full and final settlement. However, the Court retains full discretion on whether to allow interest, and if allowed, at what rate and for what period of time.

 

The Plaintiff had also sought exemplary damages, costs and other relief that the Court deems to be fair and reasonable.

 

This announcement is dated 2 February 2016.





Announcement Info

Company Name PENTAMASTER CORPORATION BERHAD
Stock Name PENTA
Date Announced 02 Feb 2016
Category General Announcement for PLC
Reference Number GA1-02022016-00109