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Subsequent Events
3 Months Ended
Mar. 31, 2017
Subsequent Events [Abstract]  
Subsequent Events

10. Subsequent Events

 

On April 25, 2017, the Company was awarded a new patent, U.S. Patent No. 9,635,186 (the “‘186 Patent”), which relates to a system and method involving the combination of echo cancellation and beamforming microphone arrays. Also on April 25, 2017, the Company filed a lawsuit in the U.S. Federal District Court in the District of Utah against three parties—Shure, Inc. (“Shure”), Biamp Systems Corporation, and QSC Audio Products, LLC (collectively, “Defendants”), alleging that the Defendants were jointly and indirectly infringing the newly issued ‘186 Patent (the “Infringement Action”). On that same day, Shure filed a separate action in the U.S. Federal District Court in the Northern District of Illinois (the “Illinois Action”) requesting a declaratory judgment as to the invalidity or non-infringement with respect to the ‘186 Patent. The Illinois Action also seeks the same declaratory judgment with respect to another Company patent, United States Patent No. 9,264,553 (the “‘553 Patent”), and which has not been asserted by the Company against any defendant and has been submitted to the USPTO for reissue. The Company intends to vigorously enforce and defend its intellectual property rights in the Infringement Action and the Illinois Action.

 

On May 4, 2017 the Company announced a quarterly cash dividend for the first quarter of 2017 at $0.07 per share to be paid on May 31, 2017 to shareholders of record as of May 17, 2017.