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both motions are pending decision.
+Added: Vivint has also moved to assert previously abandoned claims from two of the patents in a new proceeding.
+Added: We have opposed the motion.
No trial date has been set.
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If securities analysts or investors regard these announcements as negative, the market price of our common stock may decline.
+Added: Further related to Vivint, on October 27, 2022, we filed a demand for arbitration of a dispute arising under the Patent Cross License agreement between Alarm.com and Vivint executed in November 2013.
+Added: Vivint notified us it will stop paying license fees to Alarm.com under the agreement.
+Added: Vivint has paid the required license fees to Alarm.com since the agreement was executed in November 2013.
+Added: Alarm.com disputes Vivint's refusal of payment and is seeking continued payments of license fees in the arbitration, as well as interest and declaratory relief.
+Added: There can be no assurance that Alarm.com will be successful in the arbitration proceedings.
+Added: As a result of Vivint’s refusal to pay license fees under the agreement, beginning with the fourth quarter of 2022, Alarm.com believes that quarterly SaaS and license revenue and total revenue will be impacted by approximately $6.0 million.
+Added: Alarm.com also believes that quarterly earnings and cash flow will be impacted by the aforementioned $6.0 million, plus additional legal fees.
On January 10, 2022, EcoFactor, Inc., or EcoFactor, filed a lawsuit against us in U.S.
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Among other things, we asserted defenses based on non-infringement and invalidity of the patents in question.
−Removed: An evidentiary hearing in the investigation was held from June 28, 2022 through July 1, 2022.
+Added: An evidentiary hearing in the
+Added: investigation was held from June 28, 2022 through July 1, 2022.
An initial decision by the presiding administrative judge is expected by November 16, 2022.
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ADT answered the second amended complaint on March 22, 2022, asserted defenses based on non-infringement and invalidity of all five asserted patents and counterclaimed for declaratory judgement of invalidity of all five asserted patents.
−Removed: Two of the asserted patents are under inter partes review at the PTAB, and ADT has filed petitions for inter partes review for the three other asserted patents for which decisions on institution are pending.
+Added: Two of the asserted patents are under inter partes review at the PTAB.
On June 17, 2022, the court entered an order staying the case in view of the pending proceedings before the PTAB, with the exception of certain discovery of source code.
−Removed: A joint status report is due to be filed by October 21, 2022.
Should Vivint prevail on the claims that one or more elements of ADT’s products infringe, we could be required to indemnify ADT for damages in the form of a reasonable royalty or ADT could be enjoined from making, using and selling our solution if a license or other right to continue selling our technology is not made available or we are unable to design around such patents, and required to pay ongoing royalties and comply with unfavorable terms if such a license is made available to us.
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.