Shamir Optical Industry Ltd. (SHMR) said Monday that Shamir and Inray Ltd., its partly owned subsidiary, was served with a lawsuit by Dymotech Ltd., Shamir's co-shareholder in Inray Ltd.
The lawsuit, filed with the Central District Court, located in Petach-Tikva, Israel, alleges, among others, that Shamir illegally used the intellectual property of the Technion Israel Institute of Technology to seek unjust enrichment.
In addition to the request for an order to pay damages and other monetary orders, Dymotech requested a restraining order against future use of its alleged intellectual property. The total amount claimed, limited for court filing fee purposes, is NIS 100 million, or about US$ 28.17 million.
Shamir said it is reviewing and assessing the lawsuit and that it is unable, at this preliminary stage, to evaluate, with any degree of certainty, the probability of success of the lawsuit or the range of potential exposure.
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