Max Sound Mediation and Attia update SAN DIEGO, CA -- (Marketwired) -- 04/06/17 -- Max Sound Corporation (OTC PINK: MAXD) provides the following update regarding the Attia litigation against Google, Flux Factory, and other related defendants. On March 1, 2017, MAXD's legal counsel and management met with Google and Flux Factory representatives to mediate the pending Attia matter. At the end of the day, no settlement agreement was reached and the parties agreed to leave settlement negotiations open while the case continues. On May 22, 2014, MAXD entered into a representation agreement with world renowned architect Eli Attia giving MAXD the exclusive right to pursue claims on his behalf against violators of Attia's intellectual property rights. The lawsuit was filed on December 5, 2014, in the Superior Court of California, County of Santa Clara, against Google, its co-founders Sergey Brin and Larry Page, Google's spinoff company Flux Factory, and senior executives of Flux alleging among other causes of action misappropriation of trade secrets and breach of contract. The lawsuit contends that Google and the other Defendants stole Mr. Attia's trade secrets, proprietary information, and know-how regarding a revolutionary architecture design and building process that he alone had invented, known as Engineered Architecture which Google called Genie before it changed the name to Flux. Defendants engaged Attia in 2011 to translate his architectural technology into software for a proof of concept, based on decades of his life's work with the goal of determining at that point whether to continue with full-scale development of Attia's project. The lawsuit alleges that once Attia had disclosed the trade secrets and proprietary information which Google needed to bring the technology to market, they severed ties with Attia and continued to use his technology without a license and without compensation in order to bring the technology to market without him. Google valued the project at $120 billion dollars a year. Google later spun-out the business, and the new company was renamed Flux Factory. Flux Factory is substantially funded and has grown according to an interview with one if its founders to 800 employees. Plaintiffs seek a permanent injunction against the defendants, punitive damages, and restitution. As exclusive agent to Eli Attia to enforce all rights with respect to the subject technology, MAXD retained the Dallas, Texas, based law firm Buether Joe & Carpenter LLC to represent the Attia in the suit. Defendants filed multiple demurrers to the complaint, and the Court issued orders allowing the case to proceed. The parties are expected to begin the discovery phase of the litigation in early summer 2017. The case has been vigorously prosecuted, and the Company believes it has a good likelihood of success. About Max Sound Corporation: As creators of the acclaimed MAX-D HD Audio, Max Sound can provide a better solution for Audio, Video and Data transmissions. Max Sound Corporation is the company that brings forth technologies for the betterment of our world, including being co-owners of the Optimized Data Transmission Technology patent portfolio. Max Sound®, MAXD® and MAX-D Audio Perfected® and HD Audio® are registered trademarks. All other trademarks are the property of their respective owners. To learn more about the MAX-D Technology, please visit http://maxd.audio. About Buether Joe & Carpenter: Buether Joe & Carpenter, LLC is an intellectual property and commercial litigation boutique law firm focusing on patent, copyright, trademark, trade secret, and unfair competition lawsuits, as well as antitrust, contract and other business disputes for both plaintiffs and defendants. BJC offers clients the expertise of attorneys with decades of experience in handling complex litigation in an effective and efficient manner. For more information, visit www.bjciplaw.com. SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: Statements in this press release which are not purely historical, including statements regarding Max Sound's intentions, beliefs, expectations, representations, projections, plans or strategies regarding the future are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements involve risks and uncertainties including, but not limited to, the risks associated with the effect of changing economic conditions, trends in the products markets, variations in the company's cash flow or adequacy of capital resources, market acceptance risks, technical development risks, and other risk factors. The company cautions investors not to place undue reliance on the forward-looking statements contained in this press release. Max Sound disclaims any obligation and does not undertake to update or revise any forward-looking statements in this press release. Expanded and historical information is made available to the public by Max Sound Corporation and its Affiliates on its website http://maxd.audio or at http://www.sec.gov. Contact: Max Sound Corporation firstname.lastname@example.org
Max Sound Mediation and Attia update
Press spacebar to pause and continue. Press esc to stop.