International Game Technology Sues Bally Technologies For Infringement Of At Least Nine Patents
In its law suit, the company alleged that the "Bally Power Bonusing" technology, a suite of products recently installed at casinos on the East Coast and in Nevada, infringes at least nine US patents held by International Gaming Technology or IGT. The company noted that the infringement was carried out with full knowledge of the patents and IGT's rights, and that it would seek through the law suit, a preliminary and permanent injunctive relief, a court declaration of infringement, and monetary damages.
The company further revealed that Bally is the object of two other lawsuits, in which IGT has sued the company for infringing six patents related to the bonus wheel gaming machines, and also for infringing patents related to optical systems for monitoring game tables.
In September 2004, Bally was found guilty on charges of infringing patents related to IGT's Triple Play Poker gaming machines, and was ordered to pay damages totaling $7.36 million, in addition to interest and costs.
IGT is currently trading at $37.88, down $0.05 or 0.13%, on a volume of 0.86 million shares.
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