Finjan and Proofpoint Agree to Settle Patent Dispute
Case Dismissal Pending Definitive License and Settlement Agreement
EAST PALO ALTO, CA -- (Marketwired) -- 05/23/16 -- Finjan Holdings, Inc. (NASDAQ: FNJN), a cybersecurity company, announced that on May 20, 2016, its subsidiary Finjan, Inc. ("Finjan") and Proofpoint, Inc. agreed to a license to the Finjan global patent portfolio. While a settlement has been agreed to, the case dismissal is pending a final definitive licensing and settlement agreement. The terms of the agreement are expected to be confidential, subject to regulatory requirements.
"We consider the settlement of our patent infringement suit with Proofpoint to be a timely decision given the quickly approaching trial in June," said Phil Hartstein, Finjan's President and CEO. "This underscores Finjan's commitment to our Licensing Best Practices where we focus on the merits of our claims while continuing to explore licensing opportunities with all defendants and prospective licensees. It's a success when both parties can end a dispute with a handshake."
Finjan has pending infringement lawsuits against FireEye, Inc., Sophos, Inc., Symantec Corp., Palo Alto Networks., and Blue Coat Systems, Inc. relating to, collectively, more than 20 patents in the Finjan portfolio. The court dockets for the foregoing cases are publicly available on the Public Access to Court Electronic Records (PACER) website, www.pacer.gov, which is operated by the Administrative Office of the U.S. Courts.
Established nearly 20 years ago, Finjan is a globally recognized leader in cybersecurity. Finjan's inventions are embedded within a strong portfolio of patents focusing on software and hardware technologies capable of proactively detecting previously unknown and emerging threats on a real-time, behavior-based basis. Finjan continues to grow through investments in innovation, strategic acquisitions, and partnerships promoting economic advancement and job creation. For more information, please visit www.finjan.com.
Cautionary Note Regarding Forward-Looking Statements
Except for historical information, the matters set forth herein that are forward-looking statements involve certain risks and uncertainties that could cause actual results to differ. Potential risks and uncertainties include, but are not limited to, Finjan's expectations and beliefs regarding Finjan's licensing program, the outcome of pending or future enforcement actions, the granting of Inter Partes Review (IPR) of our patents or an unfavorable determination pursuant to an IPR or other challenges at the USPTO of our patents, the enforceability of our patents, the cost of litigation, the unpredictability of our cash flows, our ability to expand our technology and patent portfolio, the continued use of our technologies in the market, our stock price, changes in the trading market for our securities, regulatory developments, general economic and market conditions, the market acceptance and successful business, technical and economic implementation of Finjan Holdings' intended operational plan; and the other risk factors set forth from time to time in our filings with the SEC, including our Annual Report on Form 10-K for the year ended December 31, 2015, and the Company's periodic filings with the SEC, copies of which are available free of charge at the SEC's website at www.sec.gov or upon request from Finjan Holdings, Inc. All forward-looking statements herein reflect our opinions only as of the date of this release. These statements are not guarantees of future performance and actual results could differ materially from our current expectations. Finjan Holdings undertakes no obligation, and expressly disclaims any obligation, to update forward-looking statements herein in light of new information or future events.
Vanessa Winter | Finjan Holdings, Inc.
Alan Sheinwald or Valter Pinto | Capital Markets Group LLC
Source: Finjan Holdings
Released May 23, 2016