0000310056-11-000014.txt : 20110715 0000310056-11-000014.hdr.sgml : 20110715 20110715114452 ACCESSION NUMBER: 0000310056-11-000014 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20110714 ITEM INFORMATION: Entry into a Material Definitive Agreement FILED AS OF DATE: 20110715 DATE AS OF CHANGE: 20110715 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VICON INDUSTRIES INC /NY/ CENTRAL INDEX KEY: 0000310056 STANDARD INDUSTRIAL CLASSIFICATION: COMMUNICATIONS EQUIPMENT, NEC [3669] IRS NUMBER: 112160665 STATE OF INCORPORATION: NY FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-07939 FILM NUMBER: 11969679 BUSINESS ADDRESS: STREET 1: 89 ARKAY DR CITY: HAUPPAUGE STATE: NY ZIP: 11788 BUSINESS PHONE: 5169522288 MAIL ADDRESS: STREET 1: 89 ARKAY DR CITY: HAUPPAUGE STATE: NY ZIP: 11788 8-K 1 patentlitigation.htm PATENT LITIGATION PRESS RELEASE PATENT LITIGATION



UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 14, 2011

VICON INDUSTRIES, INC.
(Exact name of registrant as specified in its charter)

         
New York
1-7939
11-2160665
(State of Incorporation or
(Commission File Number)
(IRS Employer
Organization)
 
Identification No.)

89 Arkay Drive, Hauppauge, New York
11,788
(Address of Principal Executive Offices)
(Zip Code)

(631) 952-2288
(Registrant's telephone number,
including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
[ ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
[ ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
[ ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
[ ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
                     




ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT

    
On July 14, 2011, the Company entered into a settlement and release agreement with Lectrolarm Custom Systems, Inc. (“Lectrolarm”) to settle a patent infringement suit against the Company brought by Lectrolarm in 2003. As part of the settlement, the Company agreed to a one-time payment of $5 million to Lectrolarm in exchange for the release of all current and future claims against the Company and the dismissal of Lectrolarm's suit pending in the U.S. District Court. A copy of the press release is attached hereto as Exhibit 99.1.


ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS

(d) Exhibits

The following exhibit is furnished as part of this report:

99.1 Registrant's Press Release dated July 14, 2011
1



                                 








SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.


Dated: July 15, 2011



                                               

                                         
VICON INDUSTRIES, INC.
 
By: /s/ John M. Badke
John M. Badke
Senior Vice President, Finance and
Chief Financial Officer
 
 



 EX-99.1 2 pressrelease071411.htm PATENT LITIGATION PRESS RELEASE 071411 PRESS RELEASE 071411


EXHIBIT 99.1

FOR IMMEDIATE RELEASE
FOR FURTHER INFORMATION:
Investor Relations: Joan Wolf Vicon Industries: Joan Wolf631-650-6201
BlissPR: John Bliss: 212-840-1661

VICON ANNOUNCES PATENT SUIT SETTLEMENT

HAUPPAUGE, NY, July 14, 2011 - Vicon Industries, Inc. (VII: NYSE-AMEX), a designer and producer of IP video security and surveillance systems, today announced that it has settled the patent litigation suit brought by Lectrolarm Custom Systems, Inc. (Lectrolarm). Under the settlement, the Company agreed to a one-time payment of $5 million to Lectrolarm in exchange for the release of all claims against the Company and the dismissal of its suit pending in the U.S. District Court.

Although the Company believes that the suit was without merit and has vigorously defended itself for over eight years it decided to settle the matter. Ken Darby, Vicon's Chairman and CEO, said “the resolution of the suit allows the Company to move forward with its strategic plans after years of management distraction and financial uncertainty since the suit was brought in 2003”.
 
Vicon Industries, Inc. designs, engineers, assembles, and markets a wide range of video and access control systems and system components used for security, surveillance, safety, communication and process control purposes by a broad group of end users worldwide.







This news release contains forward-looking statements that involve risks and uncertainties. Statements that are not historical facts, including statements about the adequacy of reserves, estimated costs, Company intentions, probabilities, beliefs, prospects and strategies and its expectations about expansion into new markets, growth in existing markets, enhanced operating margins or growth in its business, are forward-looking statements that involve risks and uncertainties. Actual results and events may differ significantly from those discussed in the forward-looking statements and the Company undertakes no obligation to publicly update or revise any forward-looking statements.