"CADKEY Corp. recently exhausted appeals following entry of an adverse jury verdict for breach of contract and copyright infringement in June, 2000. The Company had fought the plaintiff in the lawsuit, HLB Technologies, Inc., for twelve years. The U.S. Court of Appeals for the Federal Circuit recently reversed a jury verdict for patent infringement but affirmed a breach of contract claim in a 2-1 decision, with one judge dissenting. In June, 2003, the U.S. Supreme Court denied CADKEY's request to hear the case"
"The acquisition agreement contemplates an acquisition through a court-approved auction process under a Chapter 11 reorganization. Subject to court approval, the Schwartz Heslin Group, Inc. of Latham, New York has been retained as CADKEY Corp.'s financial adviser to manage the contemplated auction process. The sale to IMSI will be subject to higher and better offers under terms to be announced. Any questions may be directed to Robert Schwartz of the Schwartz Heslin Group (Tel.: 518-786-7733)."
Cadkey To Be Acquired By IMSI
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