VANCOUVER, June 28, 2011 /CNW/ - Destiny Media Technologies, Inc. (and
its subsidiaries) ("Destiny") (TSXV: DSY) (OTCBB: DSNY) is pleased to
provide an update on the litigation with Yangaroo, Inc.
Destiny and Yangaroo have resolved all litigation between the two
parties. As part of the settlement agreement the parties agree that all
allegations of infringement and invalidity on any existing or pending
Yangaroo patents will immediately cease. As a result, Destiny will
drop the Canadian patent invalidity proceedings and its action for
defamation against Yangaroo and certain of its former officers.
Yangaroo will drop its counterclaim for patent infringement in Canada
and drop its defamation counterclaim as against Destiny and its CEO.
In consideration of the settlement, Yangaroo paid Destiny a lump sum
amount totaling $600,000 (Canadian Funds), and granted Destiny certain
intellectual property rights relating to the two patents held by
Yangaroo that were the subject matter of the dispute.
Destiny will continue to provide Play MPE® in its current form with no
changes or service interruptions. As part of the settlement, neither
party will pursue legal fees, court costs or royalties pursuant to the
above mentioned disputes. YANGAROO is pleased with the result as it
allows YANGAROO to focus on its business and to provide the best
services possible to its customers and clients.
About Destiny Media Technologies
Destiny Media is the developer of the Play MPE® system (http://www.plaympe.com) which the recording industry uses to securely distribute new
pre-release music through the internet to trusted recipients such as
radio, media and VIP's. Over 400,000 tracks have been delivered to
50,000 registered industry insiders since launch, representing 240
million deliveries. Real time usage statistics are available at http://www.plaympe.com/v4/company/plaympestats.php and archived press releases are available at: http://www.dsny.com/v7/news/index.php
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy and accuracy of this release.
SOURCE Destiny Media Technologies, Inc.
For further information:
CEO Destiny Media Technologies, Inc.
604 609 7736 x222