DALLAS, March 10 /PRNewswire-FirstCall/ -- Lighting Science Group Corporation (the "Company") (BULLETIN BOARD: LSCG) , a leading developer and integrator of energy efficient lighting solutions using LED technology, today announced that on February 19, 2008 Philips Solid-State Lighting Solutions, Inc. ("PSSLS") filed a complaint against Lighting Science Group Corporation, LED Holdings, LLC, and LED Effects, Inc. for alleged infringement of five United States patents assigned on their face to Color Kinetics Inc., a predecessor in interest to PSSLS. On March 7, 2008, PSSLS finally served the complaint, which fails to identify any allegedly infringing products. Lighting Science has retained preeminent intellectual property counsel to review its products and the patents asserted by PSSLS. The Company strongly believes that only a small segment of its products may be involved, that the allegations in the complaint are baseless and that Lighting Science is practicing a continuation of the LED technologies it pioneered prior to the relevant filing dates of the asserted patents. The Company intends to aggressively defend itself in this action.
Also on March 7, 2008 the Company filed a complaint in Sacramento, California Superior Court against Koninklijke Philips Electronics N.V., Philips Electronics North America Corporation and Philips Solid-State Lighting Solutions, Inc. as successor to Color Kinetics Inc. (collectively, "Philips"). The complaint requests injunctive and monetary relief and alleges damages, breach of the covenant of good faith and fair dealing, breach of fiduciary duty, intentional interference with economic relationship, negligent interference with economic relationship, violation of Business & Professions Code Section 17200, and misappropriation of trade secrets against Philips arising out of certain actions by Philips in connection with a joint venture between the Company and Philips including receipt of LED Effects, Inc. confidential information, use and disclosure of that confidential information to LSGC's competitor PSSLS, knowledge that the PSSLS patents asserted against LSGC are invalid or not infringed, and the attempt to raid the Company's employees to hamper its business.
It is the policy of the Company to respect the intellectual property rights of others as it would expect others to respect the Company's intellectual property.
About Lighting Science Group Corporation
Lighting Science Group Corporation (http://www.lsgc.com/) designs and sells highly energy efficient and environmentally friendly lighting solutions based on its proprietary Optimized Digital Lighting(R) (ODL(R)) technology in consumer and professional applications. The Company's patented and patent-pending designs in power management, thermal management, manufacturing processes and other areas reduce lighting systems' energy consumption while delivering immediate cost savings and environmental benefits to the end-user.
LED Holdings, a portfolio company of Pegasus Capital Advisors (http://www.pcalp.com/) holds a majority of the issued and outstanding shares of Common Stock of Lighting Science Group Corporation. Pegasus Capital Advisors is a private equity fund manager with offices in New York, New York and Cos Cob, Connecticut. Founded in 1995, Pegasus provides capital to middle market companies across a wide range of industries, with particular focus on businesses that make a meaningful contribution to society by positively affecting the environment, contributing to sustainability and enabling healthy living.
Certain statements in the press release constitute "forward-looking statements" relating to Lighting Science Group Corporation within the meaning of the Private Securities Litigation Reform Act of 1995. All statements regarding future events, our business strategy and our financing plans are forward-looking statements. In some cases you can identify forward-looking statements by terminology such as "may," "will," "would," "should," "could," "expect," "intend," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," the negative of such terms or other comparable terminology. These statements are only predictions. Known and unknown risks, uncertainties and other factors could cause actual results to differ materially from those contemplated by the statements. In evaluating these statements, you should specifically consider various factors that may cause our actual results to differ materially from any forward-looking statements. "Lighting Science," "Optimized Digital Lighting," "ODL" and the ODL light beam logo are registered in the U.S. Patent and Trademark Office. The phrase "Changing the Way the World Sees Light" and the LSG concentric ovals logo are trademarks of Lighting Science Group Corporation. Readers should carefully review the risk factors described above and in other documents filed by the Company with the SEC. Readers are specifically directed to the discussion under "Risk Factors" in the Company's Registration Statements on Form SB-2.
Media Contact:
Lewis Goldberg
KCSA Worldwide
212.896.1216
