GTG 0.00% 4.4¢ genetic technologies limited

update regarding applera dispute, page-2

  1. 2,833 Posts.
    Update regarding Applera Dispute
    Genetic Technologies Limited (ASX: GTG; NASDAQ: GENE) has previously advised the Market of its
    patent dispute with Applera Corporation. On August 16th, 2005, the Company attended a third mediation
    conference at the United States District Court, Northern District of California, in San Francisco. At the time,
    the Court ordered that all details of the mediation be filed under seal (confidentiality).
    In order to keep the Court fully informed of developments in the matter, the legal counsels for GTG and
    Applera (collectively, the “Parties”) jointly prepared an update for the Court. The Company has just learned
    that the Court has posted this document on the Court’s website as a Stipulated Revised Case Schedule and
    Order (the “Order”) and accordingly, this information is now publicly available. A complete copy of the
    Order is attached.
    In essence, the Order reveals the following:
    The Parties have reached a settlement in principle.
    A Confidential Term Sheet has been executed by the Parties and submitted to the Court.
    The Parties are working diligently to finalise a binding Settlement Agreement and associated documents.
    The Parties anticipate that these documents will be finalised and signed no later than Wednesday,
    November 9th, 2005 (US time).
    The Company notes that the Order simply records the progress being made by the Parties in effecting a
    settlement of the dispute. It is clear from the language used that a final settlement has not yet been reached.
 
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