-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, TipAkfNpeQF7g8yysfHU6h0+dcjHLgRqBHPIsSzy6lW4CqEjVa4ojKI7axedaBSy oj9+XYPjgCgTiG/nXD0hnA== 0000102198-03-000013.txt : 20030904 0000102198-03-000013.hdr.sgml : 20030904 20030904165313 ACCESSION NUMBER: 0000102198-03-000013 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030904 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20030904 FILER: COMPANY DATA: COMPANY CONFORMED NAME: COMPETITIVE TECHNOLOGIES INC CENTRAL INDEX KEY: 0000102198 STANDARD INDUSTRIAL CLASSIFICATION: PATENT OWNERS & LESSORS [6794] IRS NUMBER: 362664428 STATE OF INCORPORATION: DE FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-08696 FILM NUMBER: 03881949 BUSINESS ADDRESS: STREET 1: 1960 BRONSON ROAD STREET 2: BUILDING 1 CITY: FAIRFIELD STATE: CT ZIP: 06824 BUSINESS PHONE: 2032556044 MAIL ADDRESS: STREET 1: 1960 BRONSON ROAD STREET 2: BUILDING 1 CITY: FAIRFIELD STATE: CT ZIP: 06824 FORMER COMPANY: FORMER CONFORMED NAME: UNIVERSITY PATENTS INC DATE OF NAME CHANGE: 19920703 8-K 1 f8k_sep4.txt MATERNA AWARD AFFIRMATION UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) September 3, 2003 COMPETITIVE TECHNOLOGIES, INC. (Exact name of registrant as specified in its charter) Delaware 1-8696 36-2664428 (State or other (Commission File (IRS Employer jurisdiction Number) Identification No.) of incorporation) 1960 Bronson Road, Fairfield, Connecticut 06824 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (203) 255-6044 Not Applicable (Former Name or Former Address, if Changed Since Last Report) Item 5. Other Events and Regulation FD Disclosure. On September 3, 2003, the United States Court of Appeals for the Federal Circuit affirmed the August 13, 2002 judgment of the United States District Court for the District of Colorado in the Materna(TM) litigation. As a result of its contract with the University of Colorado Foundation, Competitive Technologies, Inc. (CTT) shares 18.2% of damages after attorneys' fees. If this judgment is not appealed, CTT's share would be approximately $4.7 million plus its proportionate share of interest. Although the defendant may appeal this judgment, based on the language of this September 3, 2003 judgment, CTT's management believes there is a reasonable possibility that this lawsuit will finally be settled and it will receive its share of damages finally awarded. CTT has recorded no potential judgment proceeds in its financial statements to date. CTT will record revenue for judgment proceeds when it receives them. (For further information related to this lawsuit, see the discussion of Materna Litigation in Notes 9 and 11 to CTT's Condensed Financial Statements in its report on Form 10-Q for the quarterly period ended April 30, 2003.) Item 7. Financial Statements and Exhibits. (c) Exhibits. Exhibit No. Description of Exhibit Page 99.1 Registrant's press release dated September 4, 2003 3 Signature Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. COMPETITIVE TECHNOLOGIES, INC. Registrant Date: September 4, 2003 /s/ John B. Nano By: John B. Nano President and Chief Executive Officer EX-99.1 4 ex99-1.txt PRESS RELEASE DATED SEPTEMBER 4, 2003 Exhibit 99.1 CTT CLIENTS' AWARD OF OVER $54 MILLION IN MATERNA LITIGATION AGAINST WYETH AFFIRMED BY FEDERAL CIRCUIT COURT Fairfield, CT (September 4, 2003): Competitive Technologies, Inc. (AMEX: CTT) announced that the US Court of Appeals for the Federal Circuit (CAFC) has affirmed the August 13, 2002 decision of US Senior District Court Judge John Kane of the US District Court for the District of Colorado for an approximate $54 million patent infringement judgment for fraud and unjust enrichment against Wyeth's (NYSE: WYE) American Cyanamid Co. unit, and in favor of CTT's client, the University of Colorado. CTT expects to receive approximately $4.7 million of the net proceeds recovered from Wyeth in this $54 million award. The litigation involves a prenatal vitamin supplement marketed by American Cyanamid under the Materna(TM) name. A preliminary opinion issued in July 2000 found that Drs. Robert H. Allen and Paul A. Seligman, CTT's clients at the University of Colorado are the sole inventors of the improved formulation of the prenatal vitamin supplement, and that American Cyanamid had been unjustly enriched. The second opinion, issued in August 2002 and now affirmed by the CAFC, reiterated that opinion. John B. Nano, President and CEO of CTT said, 'We applaud the CAFC decision to affirm the District Court's findings in favor of our clients and CTT, finally closing a litigation which began in 1993 for product sales between 1984 and 1994.' About Competitive Technologies, Inc. Competitive Technologies, established in 1968, is a full service technology transfer and licensing provider focused on the technology needs of its customers and transforming those requirements into commercially viable solutions. CTT is a global leader in identifying, developing and commercializing innovative technologies in life, digital, nano, and physical sciences developed by universities, companies and inventors. The global market for technology transfer services is estimated at $150 billion annually. CTT maximizes the value of intellectual assets for the benefit of its customers, clients and shareholders. Visit CTT's website: http://www.competitivetech.net Statements about the Company's future expectations, including development and regulatory plans, and all other statements in this document other than historical facts are "forward-looking statements" within the meaning of applicable Federal Securities Laws and are not guarantees of future performance. These statements involve risks and uncertainties, including those set forth in Item 1 of the Company's most recent Form 10-K and in CTT's other filings with the SEC, and are subject to change at any time. The Company's actual results could differ materially from these forward-looking statements. The Company undertakes no obligation to update publicly any forward-looking statement. Direct inquiries to: Johnnie D. Johnson, Strategic IR, Inc. E-mail: jdjohnson@strategic-ir.com Tel. (212) 754-6565; Fax (212) 754-4333 E-mail: ctt@competitivetech.net -----END PRIVACY-ENHANCED MESSAGE-----