UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
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CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 8, 2017
PRISM TECHNOLOGIES GROUP, INC.
(Exact name of registrant as specified in its charter)
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Delaware (State or Other Jurisdiction of Incorporation) |
0-26083 (Commission File Number) |
94-3220749 (I.R.S. Employer Identification No.) |
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101 Parkshore Dr., Suite 100 Folsom, California 95630
(Address of principal executive offices including zip code) |
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(916) 932-2860 (Registrant’s telephone number, including area code) |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01. Other Events
On May 8, 2017, the Court of Appeals for the Federal Circuit rejected a request by Sprint Spectrum LP d/b/a Sprint PCS (“Sprint”) for a rehearing of Sprint’s appeal of the patent infringement verdict in favor of Prism Technology Group’s subsidiary, Prism Technologies LLC (“Prism LLC”). The Federal Circuit had unanimously affirmed a $30 million patent infringement jury verdict in favor of Prism LLC on March 6, 2017.
A press release dated May 8, 2017 announcing the latest appeals court decision is attached.
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Item 9.01 Financial Statements And Exhibits
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Exhibit 99.1 |
Press release of Prism Technologies Group, Inc. dated May 8, 2017. |
SIGNATURES
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.
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PRISM TECHNOLOGIES GROUP, INC. |
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Date: May 9, 2017 |
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/s/ L. Eric Loewe |
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Name: L. Eric Loewe |
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Title: Senior Vice President, General Counsel and Secretary |
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Exhibit 99.1
Prism Technologies Group Reports Federal Circuit Rejects Sprint’s Request for Rehearing
Investor Relations Contact:
L. Eric Loewe
Prism Technologies Group, Inc.
916-275-7834
eric@przmgroup.com
Sacramento, CA (Business Wire) (May 8, 2017) – Prism Technologies Group, Inc. (OTCQB: PRZM), (”Prism Group”) today announced that the Court of Appeals for the Federal Circuit (“Federal Circuit”) rejected a request by Sprint Spectrum LP d/b/a Sprint PCS (“Sprint”) for a rehearing of Sprint’s appeal of the patent infringement verdict in favor of its subsidiary, Prism Technologies LLC (“Prism LLC”). In June 2015, a jury in the United States District Court for the District of Nebraska found that the accused Sprint network systems and methods infringe multiple claims of U.S. Patent Nos. 8,387,155 and 8,127,345 and Prism LLC was awarded trial damages of $30 million. Prism LLC was also awarded $2 million in prejudgment interest and will be entitled to post-judgment interest in an amount to be determined.
The Federal Circuit will issue its mandate on May 15, 2017, transferring jurisdiction of the case back to the District Court. Sprint, however, has until August 7, 2017 to appeal the case to the U.S. Supreme Court, which is not obligated to accept the appeal.
The suit against Sprint (8:12-cv-123-LES-TDT) is the second of five patent infringement lawsuits filed by Prism LLC against wireless carriers in U.S. District Court for the District of Nebraska. As previously reported, in November 2014, Prism LLC settled on favorable terms with AT&T Wireless (8:12-cv-122-LES-TDT). In October 2015, a jury found that T-Mobile USA, Inc. did not infringe the asserted claims of U.S. Patent Nos. 8,387,155 and 8,127,345 (8:12-cv-124-LES-TDT), and both parties have appealed the decision to the Federal Circuit. The remaining suits against United States Cellular Corporation (8:12-cv-125-LES-SMB) and Cellco Partnership d/b/a Verizon Wireless (8:12-cv-126-LES-SMB) have been stayed pending the final resolution of the Sprint and T-Mobile appeals.
About Prism Technologies Group, Inc.
Headquartered in Sacramento, CA, Prism Technologies Group, Inc. is the parent company of Prism Technologies, LLC, a Nebraska limited liability company headquartered in Omaha, Nebraska.
Cautionary Statement Regarding Forward Looking Statements
This news release contains forward-looking statements, which include statements expressing the intent, belief or current expectations of Prism Group that are subject to significant risks and uncertainties, including, but not limited to, risks associated with the unpredictable nature of patent licensing and patent litigation. Unless legally required, Prism Group undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements should be considered in the context of these and other risk factors disclosed in Prism Group's Annual Reports on Form 10-K and other filings with the Securities and Exchange Commission.