Akoustis Technologies : Litigation Statement
AKTS
Excerpts from 10/18/2021 Investor Conference Call Q&A Pertaining to Pending Litigation
Harsh Kumar [Piper Sandler Research Analyst]: "Any comment on recent legal matter?"
Jeff Shealy [Akoustis Founder & CEO]: "This is Jeff and I will address your question.
Akoustis received a copy of the complaint filed by Qorvo on October 4th.
Akoustis' technology is revolutionary and redefining the acoustic filter space. With engineers from all over the world, our team has created breakthrough technologies, including our XBAW® technology. We believe the allegations of the complaint have no merit and we will vigorously respond to them. I founded this company and helped built our team. We've been working for years to bring our customers cutting edge technologies and we will not be distracted from that mission.
Specifically, to the allegations of unfair competition, Akoustis is committed to fair and strong competition. Over the years, we have hired former Qorvo employees and Qorvo has hired former Akoustis employees. Akoustis has been in this space since 2014 and technical leaders come to Akoustis to create something new. We are dedicated to constantly redefine the boundaries of technology. There's nothing unfair about hard work and excellent results. Our technologists are dedicated to providing leading edge products to the market; and it shows.
Next, about the allegations of false advertising, our customers are savvy, educated, professionals. We do not sell an off-the-shelf product bought with a click. Customer buying decisions in this space are made by sophisticated businesses after hours of diligence. The suggestion that a legitimate website or patent reference is "false" and could mislead one of our customers is simply wrong and fails to understand our industry.
Any finally, regarding any merit to the patent infringement allegations, as I previously stated, we'll be vigorously responding to the Complaint filed by Qorvo. Based on work and analysis so far, we believe Akoustis has strong defenses, including invalidity and noninfringement. We are confident in our technology and IP portfolio, do not believe that these asserted patents are an impediment to our product roadmap, and look forward to the prompt closure of this matter by the court."
Forward-Looking Statements
This document includes "forward-looking statements" within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, each as amended, that are intended to be covered by the "safe harbor" created by those sections. These forward-looking statements include, but are not limited to, statements related to the defense of the lawsuit filed by Qorvo, Inc. Forward-looking statements include all statements that are not historical facts and
typically are identified by use of terms such as "will," "believe," "look forward," "could," "plan," "strategy," "anticipate," "attempt," "develop," "think," "seek," "potential," "possible," "continue," "future," and similar words (including the negative of any of the foregoing), although some forward-looking statements are expressed differently. Forward-looking statements are neither historical facts nor assurances of future results, performance, events or circumstances. Instead, these forward-looking statements are based on management's current beliefs, expectations and assumptions and are subject to risks and uncertainties, including, without limitation, risks and uncertainties inherent in litigation. These and other risks and uncertainties are described in more detail in the Risk Factors and Management's Discussion and Analysis of Financial Condition and Results of Operations sections of the Company's most recent Annual Report on Form 10-K and in subsequently filed Quarterly Reports on Form 10-Q. The forward- looking statements regarding future events and circumstances discussed in this document may not occur, and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. The forward-looking statements included in this document speak only as of the date hereof and, except as required by law, we undertake no obligation to update publicly or privately any forward-looking statements, whether written or oral, for any reason after the date of this document to conform these statements to new information, actual results or to changes in our expectations.
2
Disclaimer
Akoustis Technologies Inc. published this content on 19 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 October 2021 14:10:02 UTC.