WILSONVILLE, OR -- (Marketwired) -- 11/24/14 -- FLIR Systems, Inc. (NASDAQ: FLIR) announced today that the company and its subsidiary, Indigo Systems Corporation (now known as FLIR Commercial Systems Inc.), have received a favorable verdict in a previously disclosed lawsuit filed by Raytheon Corporation ("Plaintiff"). A jury in the United States District Court for the Eastern District of Texas rejected Plaintiff's allegations that Indigo, prior to its acquisition by FLIR in 2004, and FLIR misappropriated 31 trade secrets owned by the Plaintiff. The jury determined that 27 of the 31 alleged trade secrets were not in fact Plaintiff trade secrets and that neither FLIR nor Indigo misappropriated any of 31 trade secrets that were claimed.
No damages were awarded against FLIR and Indigo. The court will decide whether or not to award FLIR and Indigo their attorney's fees as the prevailing parties under the Texas Theft Liability Act.
"Today's finding from the jury confirmed our belief that Raytheon's lawsuit was wholly without merit," said Andy Teich, President and CEO of FLIR. "We look forward to having this case behind us and continuing to create the world's most innovative, high performance, affordable, and user-friendly sensor systems for a growing number of customers."
About FLIR Systems
FLIR Systems, Inc. is a world leader in the design, manufacture, and marketing of sensor systems that enhance perception and awareness. FLIR's advanced thermal imaging and threat detection systems are used for a wide variety of imaging, thermography, and security applications, including airborne and ground-based surveillance, condition monitoring, research and development, manufacturing process control, search and rescue, drug interdiction, navigation, transportation safety, border and maritime patrol, environmental monitoring, and chemical, biological, radiological, nuclear, and explosives (CBRNE) detection. For more information, go to FLIR's web site at www.FLIR.com.
Forward-Looking Statements
The statements in this release by Andy Teich are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based on current expectations, estimates, and projections about FLIR's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including the following: the ability to manufacture and deliver the systems referenced in this release, changes in pricing of FLIR's products, changing demand for FLIR's products, product mix, the impact of competitive products and pricing, constraints on supplies of critical components, excess or shortage of production capacity, the ability of FLIR to manufacture and ship products in a timely manner, FLIR's continuing compliance with U.S. export control laws and regulations, and other risks discussed from time to time in FLIR's Securities and Exchange Commission filings and reports. In addition, such statements could be affected by general industry and market conditions and growth rates, and general domestic and international economic conditions. Such forward-looking statements speak only as of the date on which they are made and FLIR does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release, or for changes made to this document by wire services or Internet service providers.
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