Lexington Technology Group (LTG), an intellectual property management
firm, announced today that its wholly owned subsidiary, Bascom Research,
expanded its patent enforcement activities by filing a lawsuit against Salesforce.com
in the Northern District of California.
Document Security Systems, Inc. (NYSE
MKT: DSS) received shareholder approval on June 20th,
2013, authorizing DSS to merge with LTG. DSS is a leader in
anti-counterfeit and authentication technologies. LTG will be a
wholly-owned subsidiary of DSS following completion of the merger, which
is anticipated to close on or about July 1st, 2013.
Bascom Research is a software development company focused on building
solutions for the management of complex and distributed data in
healthcare and other fields. The company owns patents that are
instrumental to social networking and aspects of enterprise networking.
In 2012, Bascom Research brought claims for patent infringement against
five defendants. To date, Bascom Research has entered into a settlement
agreements with two of the five original defendants in the litigation
for effective royalty rates of 4% and 5% of infringing use. In addition
to the newly-filed case against Salesforce.com, Bascom remains in
litigation with Facebook, Inc., LinkedIn Corp, and Novell
Corp in the Northern District of California. A Markman hearing for
the cases against Facebook, Inc., LinkedIn Corp, and Novell Corp is
scheduled to be heard on October 2nd, 2013.
The patents currently asserted in the Salesforce.com case are:
-
U.S. Patent No. 7,111,232 (“the ‘232 Patent”), entitled Method and
system for making document objects available to users of a network
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U.S. Patent No. 7,139,974 (“the ‘974 Patent”), entitled Framework For
Managing Document Objects Stored On A Network
-
U.S. Patent No. 7,158,971 (“the ‘971 Patent”), entitled Method For
Searching Document Objects On A Network
About Lexington Technology Group
Lexington Technology Group is an intellectual property management firm
that invests business experience, legal expertise and capital to
monetize pioneering inventions. LTG’s goal is to identify and capitalize
on opportunities for return, while rewarding highly qualified
innovators. The firm typically engages with companies that have
identified important innovations but that may lack the experience,
relationships or capital to succeed on their own, and have not been
fairly rewarded in the marketplace. LTG’s initiatives contribute to an
intellectual property market that enables innovators to benefit from
their discoveries and investors to profit from prudent risk. LTG’s
management team is comprised of experienced patent managers and
strategists that have collectively generated over $1 billion in
licenses, settlements and damages awards to date. www.lex-tg.com
Important Additional Information Filed with the SEC
This communication does not constitute an offer to sell or the
solicitation of an offer to buy any securities of DSS or Lexington. In
connection with the proposed merger of DSS and Lexington, DSS filed a
definitive proxy statement/prospectus with the SEC which was declared
effective by the SEC and disseminated to DSS’s shareholders. The merger
was approved at a Special Meeting of Stockholders held on June 20, 2013.
The definitive proxy statement/prospectus contains important information
about DSS, Merger Sub, Lexington, and the merger transaction.
Information regarding DSS’s current directors and executive officers is
contained in DSS’s Form 10-K/A filed with the SEC on April 26, 2013.
Information regarding the proposed directors and officers of the
combined company is available in the definitive proxy
statement/prospectus that was filed by DSS with the SEC.
Cautionary Note Regarding Forward-Looking Statements
Statements in this press release regarding the proposed transaction
between DSS and LTG; the expected timetable for completing the
transaction; the potential value created by the proposed Merger for
DSS’s and LTG’s; the potential of the combined companies’ technology
platform; DSS’s ability to raise capital to fund its combined operations
and business plan; the continued listing of DSS's securities on the NYSE
MKT Exchange; market acceptance of DSS products and services; DSS’s
collective ability to maintain or protect its intellectual property
rights through litigation or otherwise; LTG’s limited operating history;
competition from other industry competitors with greater market presence
and financial resources than those of DSS’s; DSS’s ability to license
and monetize the patents owned by LTG; potential new legislation or
regulation related to enforcing patents; the complexity and costly
nature of acquiring patent or other intellectual property assets; the
combined company’s management and board of directors; and any other
statements about DSS’s or LTG’s management teams’ future expectations,
beliefs, goals, plans or prospects constitute forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of
1995. Any statements that are not statements of historical fact
(including statements containing the words "believes," "plans," "could,"
"anticipates," "expects," "estimates," "plans," "should," "target,"
"will," "would" and similar expressions) should also be considered to be
forward-looking statements. There are a number of important factors that
could cause actual results or events to differ materially from those
indicated by such forward-looking statements, including: the risk that
DSS and LTG may not be able to complete the proposed merger transaction;
the inability to realize the potential value created by the proposed
merger for DSS’s and LTG’s stockholders; the inability to raise capital
to fund combined operations ; DSS’s inability to maintain the listing of
its securities on the NYSE MKT Exchange; the potential lack of market
acceptance of DSS’s products and services; DSS’s inability to protect
its intellectual property rights through litigation or otherwise;
competition from other industry competitors with greater market presence
and financial resources than those of DSS’s; DSS’s inability to license
and monetize the patents owned by LTG; and other risks and uncertainties
more fully described in DSS’s Annual Report on Form 10-K for the year
ended December 31, 2012 as filed with the SEC, as well as the other
filings that DSS makes with the SEC.
Copyright Business Wire 2013