Calypso Wireless to Seek Court Action to Stop Auction of Its Patents - CBL
President Richard Pattin Forced to Resign
By Citybizlist Staff
HOUSTON - Calypso Wireless Inc. (OTC: CLYW) plans to seek court remedies in its patent battle against Drago Daic and others, according to an 8-K filing with the U.S. Securities and Exchange Commission.
The decision followed reports that Daic and Jimmy Williamson had assigned the disputed patents to a receiver to be auctioned Jan. 15. The auction previously had been scheduled for Dec. 18.
Daic and Williamson, who are represented by the law offices of Kelly Stephens in Houston, are auctioning the patents after alleging a default by Houston-based Calypso of a settlement agreement.
The disputed patents cover technology that enables wireless users to roam across wide-area network access points, such as cellular towers, and short-range Internet access points, such as Wi-Fi and Bluetooth.
Calypso also said in the filing that it had accepted the resignation of President and director Richard Pattin and dismissed his claim of a five-year employment agreement. The company said it would continue investigations into the role of Pattin in the management of the company and retained the right to recover potential damages.
Pattin had on Dec. 13 been asked by Calypso's Governance Committee to disclose his external affiliations. He acknowledged receipt of this notice but did not respond by the Dec. 16 deadline
