|By Business Wire||
|July 22, 2014 04:53 PM EDT||
Unwired Planet, Inc. (NASDAQ:UPIP), today announced that it has sued Microsoft for breach of contract and declaratory judgment in the U.S. District Court of Delaware.
This action relates to the licensing agreement the two companies entered into in September 2011.
“Microsoft owes Unwired Planet licensing fees under a previous agreement,” stated Phil Vachon, chairman of Unwired Planet. “According to published reports, Microsoft collects two billion dollars of royalties each and every year for its intellectual property, but they seem unable to locate the funds to pay for ours. We expect to prevail in this matter."
The complaint was filed under seal in order to protect the confidentiality of certain terms of the parties’ agreement.
About Unwired Planet
Unwired Planet, Inc. (NASDAQ: UPIP) is the inventor of the Mobile Internet and a premier intellectual property company focused exclusively on the mobile industry. The company's patent portfolio of over 2,500 issued and pending US and foreign patents, includes technologies that allow mobile devices to connect to the Internet and enable mobile communications. The portfolio spans 2G, 3G, and 4G technologies, as well as cloud-based mobile applications and services. Unwired Planet's portfolio includes patents related to key mobile technologies, including baseband mobile communications, mobile browsers, mobile advertising, push notification technology, maps and location based services, mobile application stores, social networking, mobile gaming, and mobile search. Unwired Planet is headquartered in Reno, Nevada. References in this release to Unwired Planet may be to Unwired Planet, Inc. or its subsidiaries.
Cautionary Note Regarding Forward Looking Statements
Any statements in this press release with respect to future events or expectations, including statements regarding the Company's licensing activities and expectations regarding enhancing shareholder value are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 and Section 27A of the Securities Act of 1933. These forward-looking statements are subject to many risks and uncertainties that could cause actual results to differ materially from those projected. Notwithstanding changes that may occur with respect to matters relating to any forward looking statements, Unwired Planet assumes no obligation to update the forward-looking statements included in this press release. For a detailed discussion of these and other factors that may cause these forward looking statements not to come true, please refer to the risk factors discussed in Unwired Planet's filings with the U.S. Securities and Exchange Commission, including the company's Annual Report on Form 10-K for the fiscal year ended June 30, 2013. These documents are available at www.sec.gov or from Unwired Planet's website at www.unwiredplanet.com.
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