Audiovox Corp. announced that MPEG LA, a licensing administrator offering the MPEG-2 Patent Portfolio License, has filed a Complaint in the Supreme Court of the State of New York, County of New York, against Audiovox Electronics Corp. (AEC), the company's wholly-owned subsidiary.
MPEG LA alleged breach of its June 2003 MPEG-2 patent portfolio license agreement with Audiovox through non-payment of royalties based on unreported sales of MPEG licensed products, such as DVD players and multi-media systems, among others sold by Audiovox. MPEG LA is seeking specific performance of the license agreement as well as injunctive relief and past royalty payments with interest.
Audiovox says the lawsuit is totally without merit and it intends to countersue MPEG LA for breach of the agreement.
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