Digital Ally (DGLY) released a statement Thursday addressing what it claims are inaccurate reports from a press release issued by TASER (TASR) stating Digital Ally’s patent ending in number 292 were found to be “unpatentable by the U.S. Patent Office due to prior art found by TASER.
Digital claims this statement is misleading and inaccurate in that the company owns Patent 292, the technology of which is incorporated into Digital Ally’s VuLink law-enforcement body camera product. Also, any decision made by the Patent Office is “preliminary..and the reexamination process is far from complete.”
Additionally, Digital Ally claims that the reason TASER requested the reexamination of Patent 292 is because TASER’s Axon Signal product has many of the same features as described in Patent 292, and appears to be a veiled attempt by TASER “to remove a threat in the marketplace…that could potentially prevent TASER from selling its Axon Signal product” suggesting that TASER’s attempt to discredit Patent 292 is a pre-emptive move on the belief it may be infringing on a Digital Ally patent.
The statement has done little to improve the stock price of either on Thursday, as both are trading lower. DGLY last traded more than 1% cheaper at $7.11, towards the low of its 52-week range of $4.60 to $25.36.
TASR is fractionally lower at $23.62 with a 52-week range of $13.40 to $35.95.
Companies: Digital Ally, Inc.
Price: 7.10 Price Change: -0.09 Percent Change: -1.24