Spectranetics announces unfavorable jury verdict in a patent litigation dispute
Spectranetics Corporation has announced that it has received an unfavorable jury verdict in a patent litigation dispute with Dr. Peter Rentrop in the U.S. District Court in the Southern District of New York. Spectranetics has filed several post-trial motions seeking to overturn the verdict.
The last of these motions was filed on February 5, 2007, and the jury award is not final until the judge rules on the post-trial motions.
Dr. Rentrop alleged that the patent issued to him on January 6, 2004 was infringed by the Spectranetics' Point 9 millimeter catheters. Spectranetics does not believe that Dr. Rentrop's patent was infringed and has asserted counter-claims of invalidity, breach of contract and inequitable conduct.
Dr. Rentrop was seeking damages of $7,500,000, which consists of treble damages on a base royalty of $2,500,000.
