ipernica ltd (ASX:IPR) provides the following update in respect of its case against Ericsson and others in the Federal Court of Australia. The case concerns a licence agreement executed between ipernica (formerly QPSX) and Ericsson which provides for payment by Ericsson of royalties at a rate of 5% on Ericsson?s global use of ATM Products for the first year from 1 July 2003 and 3% for subsequent years. The company is seeking damages for breaches of the licence agreement, as well as for misleading and deceptive conduct in contravention of the Trade Practices Act 1974 (Cth). Ericsson has brought cross claims against ipernica seeking damages for misrepresentation, mistake and other associated claims. Following conferral of the parties in accordance with orders previously made in this matter, yesterday?s Case Management Conference was adjourned by consent until 9.30am on 24 July 2007. The Ericsson parties were ordered to file evidence in respect of their proposal for a split trail by 11 July 2007, in preparation for the next hearing.
