The pending case was originally filed in December 2002 in response to a patent infringement case filed by the company against Webb in 1998. The patent infringement case settled and was dismissed. The current case alleged that Progressive engaged in attempted monopolization in 1998 and 1999.
In a jury verdict, the plaintiff has been awarded the sum of us$ 13 million for his claims, which amount will be trebled in accordance with applicable law. The Company intends to file post-trial claims for relief and, if necessary, initiate the appeals process. The company does not expect final conclusion of these matters until at least 2008.
This decision is not expected to have any adverse impact on the company’s cash position in fiscal 2007 and the company intends to take action to ensure any cash disbursements related to this case are mitigated.
Robert Ziems, Executive VP and General Counsel for the company stated, "We believe that our position in this case is solid and well supported by the law and facts. As such, we will obviously seek to have the verdict set aside.
The company’s US table games market-share was less than 5% during the relevant time period-a percentage that pales in comparison to what we believe is traditionally required to support an anti-trust allegation. This case is by no means concluded. We will vigorously defend our company and seek judicial relief from the jury’s verdict. If necessary, we also will appeal this matter."