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CSI Wireless Files Answer and Counter Claims to Audiovox Complaint
CALGARY, Aug. 2 - (TSX:CSY): CSI Wireless Inc. ("CSI Wireless"), a leader in
GPS and wireless technology products for automotive, consumer and commercial
applications, announced today that on July 30, 2002 it filed an Answer and
Counter-Claims to the Statement of Complaint filed by Audiovox
Communications Corp. ("Audiovox"), as announced by CSI Wireless in its July
3, 2002 news release.
In its Answer and Counter-Claims, CSI Wireless unequivocally denies each of
the claims for damages made by Audiovox. In addition, CSI Wireless has
advanced counter-claims against Audiovox, including claims for breach of
contract, breach of duty of good faith and fair dealing.
CSI Wireless is seeking judgment against Audiovox:
(i) dismissing Audiovox's complaint in its entirety;
(ii) for a minimum of US$10 million in compensatory damages, with the final
amount to be determined at trial;
(iii) for punitive damages in an amount to be determined at trial;
(iv) awarding CSI Wireless its cost and expenses, including reasonable legal
fees incurred in the litigation; and
(v) granting such other and further relief as the court finds appropriate.
The Company believes that punitive damages of no less than US$10 million are
appropriate.
As stated in its July 3, 2002 news release, CSI Wireless believes the claims
made against it to be without merit and will aggressively defend the action,
protect all of its intellectual property rights and seek redress for any
damages it has incurred.
About CSI Wireless
With offices in Calgary, Silicon Valley, and Phoenix, CSI Wireless designs
and manufactures innovative, cost-effective, wireless and GPS products for
mobile and fixed applications in the agriculture, marine, automotive and
other markets. Through the integration of GPS and wireless, CSI has begun
serving several emerging high-growth markets including Fleet Management,
Asset Tracking, Telematics and Mobile Computing applications. The Company
owns several patents and intellectual property relating to wireless and GPS
technologies. CSI Wireless has licensed its cellular technology to GPS,
cellular handset, and chipset manufacturers. The company's common shares
trade on The Toronto Stock Exchange under the trading symbol "CSY", with
approximately 19.1 million outstanding. For online information about CSI
Wireless, go to www.csi-wireless.com
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