SCOTTSDALE, Ariz., Aug. 8, 2006 (PRIMEZONE) -- TASER International, Inc. (Nasdaq:TASR), a market leader in advanced electronic control devices, announced that judgment was entered in its favor in the matter of TASER International v. Hennigan International, Inc., filed in the U.S. District Court for the District of Arizona and also in the matter of TASER International, Inc. v. Thomas G. Watkins III, filed in the Superior Court of Arizona for Maricopa County. In the Hennigan litigation, which involves claims filed against the Company by a former distributor for alleged commissions, the Court entered judgment for TASER International dismissing with prejudice all claims, except the Court set a briefing schedule for an alleged remaining claim for $9,600. In the Watkins litigation, which involved claims against Mr. Watkins, the Company's former patent attorney for declaratory judgment, breach of fiduciary duty, constructive fraud, and breach of contract, the Court granted TASER International's motion for partial summary judgment on liability, leaving open the matter of remedies and other residual issues for resolution in subsequent proceedings.
The Court's opinion in the Watkins litigation stated in part, "Watkins' conduct must be measured against an objective, not a subjective standard. For the reasons stated in TASER International's moving papers, and based upon Watkins' own testimony, he had a duty of disclosure to TASER and breached that duty. He had a position adverse to TASER, which was unknown to TASER. He represented TASER in the face of this obvious conflict. TASER was harmed. These conclusions follow as a matter of law from the undisputed facts. Watkins' defenses are insufficient and legally immaterial, for the reasons stated in TASER's moving papers."
"We are very pleased to have prevailed in these two lawsuits and look forward to pursuing our remedies against Mr. Watkins in the next phase of this litigation," stated Doug Klint, Vice President and General Counsel for TASER International, Inc.
About TASER International, Inc.
TASER International provides advanced electronic control devices for use in the law enforcement, military, private security and personal defense markets. TASER(r) devices use proprietary technology to incapacitate dangerous, combative or high-risk subjects who pose a risk to law enforcement officers, innocent citizens or themselves in a manner that is generally recognized as a safer alternative to other uses of force. TASER technology saves lives every day, and the use of TASER devices dramatically reduces injury rates for police officers and suspects. For more information on TASER life-saving technology, please call TASER International at (800) 978-2737 or visit our website at www.TASER.com.
Note to Investors
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including statements, without limitation, regarding our expectations, beliefs, intentions or strategies regarding the future. We intend that such forward-looking statements be subject to the safe-harbor provided by the Private Securities Litigation Reform Act of 1995. The forward-looking information is based upon current information and expectations regarding TASER International. These estimates and statements speak only as of the date on which they are made, are not guarantees of future performance, and involve certain risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results could materially differ from what is expressed, implied, or forecasted in such forward-looking statements.
TASER International assumes no obligation to update the information contained in this press release. These statements are qualified by important factors that could cause our actual results to differ materially from those reflected by the forward-looking statements. Such factors include but are not limited to: (1) market acceptance of our products; (2) our ability to establish and expand direct and indirect distribution channels; (3) our ability to attract and retain the endorsement of key opinion-leaders in the law enforcement community; (4) the level of product technology and price competition for our products; (5) the degree and rate of growth of the markets in which we compete and the accompanying demand for our products; (6) risks associated with rapid technological change and new product introductions; (7) competition; (8) litigation including lawsuits resulting from alleged product related injuries and death; (9) media publicity concerning allegations of deaths and injuries occurring after use of the TASER device and the negative effect this publicity could have on our sales; (10) TASER device tests and reports; (11) product quality; (12) implementation of manufacturing automation; (13) potential fluctuations in our quarterly operating results; (14) financial and budgetary constraints of prospects and customers; (15) order delays; (16) dependence upon sole and limited source suppliers; (17) negative reports concerning the TASER device; (18) fluctuations in component pricing; (19) government regulations and inquiries; (20) dependence upon key employees and our ability to retain employees; (21) execution and implementation risks of new technology; (22) ramping manufacturing production to meet demand; (23) medical and safety studies; and (24) other factors detailed in our filings with the Securities and Exchange Commission, including, without limitation, those factors detailed in the Company's Annual Report on Form 10-K and its Form 10-Qs.
The statements made herein are independent statements of TASER International. The inclusion of any third parties does not represent an endorsement of any TASER International products or services by any such third parties.