Brief: Xeriant Initiated Legal Proceedings Against XTI Aircraft Company In Federal District Court For Southern District Of New York

Xeriant

12/12/2023 21:53

Dec 12 (Reuters) - Inpixon  INPX.O :
    * XERIANT INC - INITIATED LEGAL PROCEEDINGS AGAINST XTI
AIRCRAFT
COMPANY IN FEDERAL DISTRICT COURT FOR SOUTHERN DISTRICT OF NEW
YORK
    * XERIANT INC - BELIEVES COMPLETED DESIGNS OF TRIFAN 600, A
PRODUCT OF CO'S SIGNIFICANT INVESTMENT, ARE INTEGRAL TO XTI'S
IMPENDING MERGER WITH INPIXON
    * XERIANT-XTI INDUCED SUBSTANTIAL INVESTMENTS FROM CO IN
MILLIONS
OF DOLLARS WITH VALUABLE INTELLECTUAL PROPERTY, FOR DEVELOPMENT
OF TRIFAN 600 VTOL
    * XERIANT - SEEKING REMEDIES  INCLUDING RECOVERY OF LOSSES,
EXPENSES, ATTORNEYS' FEES, PUNITIVE DAMAGES, COMPENSATORY DAMAGE
AWARD OF OVER $500 MILLION
    * XERIANT - PURSUING COURT ORDER TO ENJOIN FURTHER
"MISAPPROPRIATION" OF JOINTLY OWNED TRIFAN 600 DESIGNS, TO
PREVENT ADDITIONAL BREACHES OF CO'S RIGHTS

Source text for Eikon:  ID: 
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