Tuesday, February 24, 2009

The "S" Class Action Suit (WordLogic In Reverse)x50

In a tobacco suit or other class-action case (such as the asbestos litigation that leveled Johns Manville), you have several hundred people teaming together to sue a major corporation. If they win, lots of little people get lots of checks that they think are big. In the final analysis, though, only the attorneys score big. By comparison, we have one plaintiff - WordLogic Corporation - which is positioning itself to attack as many as 50 companies worldwide. If successful against Mercedes - as it was against Hewlett-Packard - tiny WordLogic stands to be awarded millions upon millions, year after year, with each consecutive victory setting a precedent to win the next - and to win it more easily. Case law is predicated on legal precedent - and, to some extent, WordLogic already has one. Before the Company even went public - and while the patent was still pending - CEO Evanshen won an out-of-court settlement against Hewlett-Packard for $2 million. Technically, the suit was for trademark infringement. Had the patent already been granted, as it now has been, Evanshen believes WordLogic would have received "probably ten times that $2 million amount." In time, dozens of other suits, worth dozens, if not hundreds of millions in damages each, will likely be filed against defendants with names that are just as recognizable as Mercedes-Benz - especially if WordLogic defeats Mercedes-Benz.

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