OZARK, Mo., Oct. 18 /PRNewswire-FirstCall/ — SLS International, Inc.
(Amex: SLS) today announced that a dismissal has been entered by the Los
Angeles Superior Court with regards to a lawsuit that had been filed
against SLS and other parties by Jimmy Iovine and Andre Young. The lawsuit claimed that SLS had breached an oral contract relating to the design and promotion of certain patent pending headphone technology owned by SLS International. SLS was the only defendant dismissed from the lawsuit. The dismissal was entered without prejudice.
“This dismissal was expected to be imminent for some time,” said John
Gott, CEO of SLS International, “as we felt it was apparent that SLS had no
involvement in any negotiations with the plaintiffs and the other
defendants in this case. SLS has had a pending license agreement with a
third party, DGM Audio, and otherwise did not have any pending agreements
or arrangements with the other defendants or plaintiffs in this case. We
still think we should not have been named as a defendant in this case in
the first place. This dismissal will allow us to move forward with other
possible licensing agreements for our patent pending noise canceling
headphone technology and other patented products.”
About SLS
Based in Ozark, Mo., SLS International, Inc. is a 30-year-old
manufacturer and developer of new proprietary patent-pending ultra-high
fidelity Ribbon Driver loudspeakers, patented Evenstar Digital Amplifiers
and sound systems for the commercial, home entertainment, professional and
music markets. SLS has perfected the ribbon-driver technology enabling
their loudspeakers to achieve exceptional inner detail and accuracy with
20% to 30% less distortion of typical compression driver and dome tweeters.
SLS speakers and systems are used in high-profile venues such as
NBC/MSNBC’s 2002 and 2004 Olympics studios, the Recording Academy’s Grammy
Producers SoundTable events, and for the NAMM winter show, providing sound
in the AVID Technology booth just to name a few. For more information,
visit http://www.slsaudio.com.
Safe Harbor
Matters discussed in this press release contain forward-looking
Statements within the meaning of the Private Securities Litigation Reform
Act of 1995. When used in this press release, the words “anticipate,”
“believe,” “estimate,” “may,” “intend,” “expect” and similar expressions
identify such forward-looking statements. Actual results, performance or
achievements could differ materially from those contemplated, expressed or
implied by the forward-looking statements contained herein. These
forward-looking statements are based largely on the expectations of the
Company and are subject to a number of risks and uncertainties. These
include, but are not limited to, risks and uncertainties associated with
the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company with the Securities and Exchange Commission.
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