-----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, B4xGbKsRl1ZSKFzowea/CexOdf4ZvIp3/rqVKw5AKvqNJ6P/UCrO3CNU4LqpVS9p ZHEEYr9XCvWxw/nkCoJcpg== 0001157523-04-005557.txt : 20040609 0001157523-04-005557.hdr.sgml : 20040609 20040609135049 ACCESSION NUMBER: 0001157523-04-005557 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040608 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20040609 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: 04855559 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 a4658675.txt 8-K FOR COMPETITIVE TECHNOLOGIES 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) June 8, 2004 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 June 8, 2004, the U.S. Court of Appeals for the Federal Circuit affirmed the November 2002 decision in favor of the Company and Metabolite Laboratories, Inc. in the LabCorp litigation. LabCorp now has limited legal options available to them, and may either request a rehearing en banc or file a petition to appeal this decision to the U.S. Supreme Court, or both. We do not know what course of action LabCorp will take; however, ultimately we expect that the decision of the court will continue to be upheld in our favor. We have not received any cash nor have we recorded any revenue related to the damages awarded in this decision. We will record any revenue from this decision when this decision is final and unappealable. For further information relating to this lawsuit, please refer to the discussion under the caption "LabCorp" under "Legal Proceedings" in the Prospectus filed with the Securities and Exchange Commission on May 6, 2004, under Rule 424(b)(3) of the Securities Act of 1933. Item 7. Financial Statements and Exhibits. (c) Exhibits. Exhibit No. Description of Exhibit Page ----------- ---------------------- 99.1 Registrant's press release dated June 8, 2004 3-4 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: June 9, 2004 /s/ John B. Nano ------------------------- By: John B. Nano President and Chief Executive Officer EX-99.1 2 a4658675ex991.txt EXHIBIT 99.1 COMPETITIVE TECHNOLOGIES Exhibit 99.1 COMPETITIVE TECHNOLOGIES WINS IN HOMOCYSTEINE CASE AGAINST LABCORP AT FEDERAL CIRCUIT COURT Fairfield, CT (June 8, 2004) Competitive Technologies, Inc. (AMEX: CTT) announced that the U.S. Court of Appeals for the Federal Circuit (CAFC) has affirmed the November 2002 decision of Senior Judge Zita L. Weinshienk of the Colorado U.S. District Court (CDC). The CAFC decision reaffirmed that Laboratory Corporation of America Holdings (LabCorp) willfully contributed to and induced infringement of CTT's homocysteine assay patent. The CAFC ruling positively upholds the validity of CTT's patent rights and the November 2001 jury decision that found in favor of CTT, its clients the University of Colorado and Columbia University, and its licensee Metabolite Laboratories, Inc. (MLI). CTT expects to receive approximately $1.2 million of the $2.1 million the CDC awarded to CTT, the University of Colorado and Columbia University, and $4.5 million to MLI in damages and interest in this five-year old case. LabCorp posted a $6.6 million bond to stay execution of the monetary judgement granted in favor of CTT by the CDC and to stay a permanent injunction from performing homocysteine assays. In December 2002, CTT and LabCorp reached an agreement under which LabCorp immediately began paying CTT a 6% royalty on all homocysteine assays conducted by LabCorp under CTT's patent rights. The assay patent is derived from discoveries made by CTT's clients, Drs. Robert Allen and Sally Stabler from the University of Colorado and the late Dr. John Lindenbaum from Columbia University. John B. Nano, CTT's President and CEO said, "We are pleased that the CAFC has found in favor of CTT and our clients in this important homocysteine assay patent infringement case. We will intensify our program for the collection of all previously withheld royalties from other labs for current and retroactive fees. We believe there are now over 20 million assays conducted annually, with this number is growing substantially each year. CTT expects to earn several millions of dollars of revenue as a result of this court decision. The homocysteine assay benefits society in keeping with our strategy of finding technology solutions that satisfy customer needs and add to shareholder value." "Elevated levels of homocysteine resulting from vitamin B12 and folate deficiency have been associated with cardiovascular and vascular disease, Alzheimer's, rheumatoid arthritis and other diseases," continued Mr. Nano. "These elevated levels are found in one cardiovascular patient of every three, or approximately 20 million Americans. The homocysteine assay is an important element of routine diagnosis, annual monitoring and effective treatment." 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. Tel. (212) 754-6565; Fax (212) 754-4333 E-mail: jdjohnson@strategic-ir.com E-mail: ctt@competitivetech.net -----END PRIVACY-ENHANCED MESSAGE-----