As a result of the litigation, Amerivision has agreed to pay Nova Oculus a confidential amount in monetary damages.
PALM DESERT, Calif. (PRWEB) July 11, 2018
An important judicial settlement in the legal fight to protect ground-breaking patents and intellectual property was reached last week by Nova Oculus Partners, LLC, the company developing a pioneering device to successfully treat the dry version of Age-Related Macular Degeneration.
In September of last year, Nova Oculus filed suit in the U.S. District Court in Minnesota against Amerivision International Inc., and three of that company’s principals: Blair Mowery, Marshall Masko and John Jarding, alleging the defendants misappropriated tangible and intellectual property from another company, Acuity Medical International, that rightfully belongs to Nova Oculus.
The suit, involving primarily allegations of trade secret misappropriation and breach of confidentiality obligations, has now been settled out of court.
Acuity’s assets were purchased by Nova Oculus in a trustee bill of sale in 2015 as part of Acuity’s bankruptcy proceedings. The defendants were all principals of Acuity prior to its bankruptcy and formed Amerivision after Nova Oculus had purchased Acuity’s assets.
As a result of the litigation, Amerivision has agreed to pay Nova Oculus a confidential amount in monetary damages. Amerivision has also corrected public misstatements it made regarding the existence and viability of its product. Specifically, Amerivision now acknowledges: (1) it has no product; (2) it has no product prototype; (3) it has no designs or technical specifications for a product or product prototype; (4) it has no product being manufactured; and (5) has no product in clinical trials.
The case is Nova Oculus Partners, LLC et al. v. Amerivision International, Inc. et al., Case No. 17-4295 (PAM/SER), in the United States District Court for the District of Minnesota. Nova Oculus was represented in this action by Scott Eidson of the firm Stinson Leonard Street of St. Louis, MO.
ABOUT NOVA OCULUS
NOVA OCULUS IS THE NAME of the pioneering new medical device engineered and developed to treat the dry form of Age-Related Macular Degeneration—and for the company of talented and innovative people that created it.
Our Nova Oculus device will revolutionize the treatment protocols for dry AMD and offer hope to millions of Americans who are going blind without it. Dry AMD is an affliction without a cure, yet our microcurrent electro-therapy technology is proving to successfully mitigate its symptoms.
We have a blue-ribbon team of highly experienced engineering professionals leading our efforts to bring Nova Oculus to market. We have also assembled a medical advisory board that includes some of the leading optometric professionals in the United States, and we are developing a plan to earn FDA approval for the Nova Oculus and gain its widespread commercialization in the U.S.
The Nova Oculus device has been certified as complying with the quality management standard set by the International Organization of Standardization (ISO) and the electrical safety standard set by the International Electrotechnical Commission (IEC). These certifications pave the way for global regulatory approvals for Nova Oculus.
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