Nevada Court Rules In Favor Of TMMI, Denies Dimension's Claim Of Over $867,000 In Legal Fees
WILMINGTON, Del., March 7, 2017 /PRNewswire/ -- TMM, Inc. (http://www.tmmi.us) (OTC PNK: TMMI) ("TMMI" or the "Company") is pleased to announce that the Company has received the ruling by Nevada's Eighth Judicial District Court denying over $867,000 in legal fees sought by defendants Dimension, Inc. et al. Trial Judge Elizabeth Gonzalez further ruled that TMMI's defenses against Dimension were non-frivolous.
TMMI initially brought suit against Dimension in 2013 for misappropriation of one iteration of TMMI's original fractal-based code. As the original and leader in fractal video technology, TMMI engaged in this litigation to protect its shareholders and its assets.
The technical program in the dispute pertained to TMMI's 1993 fractal based PVS/SGI compression technology. The PVS was specifically built to work with IBM's main frame computers of that day and the SGI was designed to work with Silicon Graphics Incorporated 1993 work stations. TMMI no longer found the PVS/SGI technology to be commercially viable and voluntarily dismissed its lawsuit against Dimension in January 2016.
Subsequently, Dimension filed twelve counter claims. TMMI defeated ten of these claims on Summary Judgment, Dimension voluntarily dismissed one of their claims, and the last claim was resolved in a declaratory ruling in November, 2016 whereby Dimension would have rights to the PVS/SGI version of the 1993 program. TMMI has appealed that decision. After the mid-1990's TMMI never again used the 1993 PVS/SGI version of the codec and has since developed its new state-of-the-art, proprietary technology.
In addition to denying all of defendant Dimension et al. request for legal fees, the court also reduced defendants' claims for over $104,000 in court costs, granting them approximately $54,000 in costs, which TMMI is considering for appeal. "We are gratified that the court recognized the merits of TMMI's position and ultimately ruled against the defendants in their attempt to extract exorbitant legal fees and unsupported costs from the company", said Gerard V. Cavanagh, TMMI President, "TMMI is focusing its resources on the marketing and the further development of the company's superior patent pending non-fractal technology."
ON BEHALF OF THE TMMI BOARD OF DIRECTORS OF TMM, INC.: GERARD V. CAVANAUGH
CHAIRMAN AND PRESIDENT
For more information, please visit the Company's Website at http://www.tmmi.us.
About TMM, Inc. TMM, Inc. (otc pnk:TMMI) is a technology company headquartered in Wilmington, Delaware, specializing in digital video compression, video scaling and image management. Founded in 1990, the company is dedicated to improving bandwidth utilization and video image quality. TMMI develops digital video compression and scaling technologies that provide end-to-end workflow and distribution solutions for digital cinema; streaming media; cable TV; sports; mobile; intelligence, surveillance and reconnaissance; defense; security; medical imaging; space exploration; video game applications; training and distance learning.
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