AMX Announces Network Media Group

rAVe Team

14 years ago

AMX announced this month the creation of a Network Media Group to advance its line of IP-based media distribution and control solutions. The mission of the group is to “understand the unique requirements of a fully IT compatible AV solution and adapt existing products necessary to meet these requirements.”

The new group will be in both the U.S. and the U.K. and bring together teams responsible for current AMX products, including Vision² IPTV systems, the Insprired Signage line and the Telvision Distribution System (TDS).

For more information, click here: http://amx.com/

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Tenth Circuit Court of Appeals Affirms Verdict in Favor of ClearOne against Biamp Systems for $3.7 Million

The United States Court of Appeals for the Tenth Circuit issued an opinion today, affirming a November 2008 jury verdict issued by a federal district court in favor of ClearOne (NASDAQ: CLRO) against Biamp Systems Corp. (“Biamp”), for theft of ClearOne’s trade secrets, including the federal district court’s award of exemplary damages based upon the finding that Biamp’s misappropriation was willful and malicious. In its ruling, the Tenth Circuit Court of Appeals reduced the amount of ClearOne’s judgment on two categories of ClearOne’s damages, but otherwise affirmed Biamp’s liability to ClearOne on every component of ClearOne’s judgments against Biamp for theft of ClearOne’s trade secrets, including awards for lost profits, unjust enrichment, exemplary damages based upon Biamp’s willful and malicious conduct, taxable costs, and attorney fees and costs.

The amount of ClearOne’s judgment against Biamp is estimated to be $3.7 million, not including additional amounts that may be awarded. This amount reflects reductions by the Tenth Circuit Court of Appeals of approximately $1.1 million from the federal district court’s previous judgment of about $4.8 million.

Pursuant to a prior order of the federal district court, Biamp had deposited in escrow the sum of approximately $3.7 million, to protect ClearOne and serve as a bond on appeal. ClearOne will immediately seek release of these monies to satisfy judgment in its favor.