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Majesco Entertainment and Microsoft Announce Denial of Appeal Filed by Intelligent Verification Systems

January 25, 2016 | About:

U.S. Federal Circuit Court of Appeals Affirms District Court's Judgment Under Rule 36 in Favor of Majesco Entertainment Co. and Microsoft Corp.

SOUTH PLAINFIELD, NJ--(Marketwired - Jan 25, 2016) - Majesco Entertainment Company (NASDAQ: COOL) ("Majesco", or the "Company"), an innovative provider of downloadable games for the mass market, announced today that the United States Court of Appeals for the Federal Circuit affirmed the District Court for the Eastern District of Virginia's judgment in favor of Majesco and Microsoft (NASDAQ: MSFT) in the matter of Intelligent Verification Systems LLC v. Majesco Entertainment Co. and Microsoft Corp. This positive judgment in favor of Majesco and Microsoft was affirmed by the Federal Circuit under Rule 36.

Barry Honig, Co-Chairman and Chief Executive Officer, commented: "We believe that this affirmation by the Federal Circuit of the previous judgment in our favor should bring this matter to a close, ending any concern of potential liability of Majesco associated with it. We are pleased that both the District Court and the Federal Circuit saw the valid merits of our defense that led to ruling in our favor. With this potential distraction behind us, we can continue our focus on enhancing shareholder value." 

About Majesco Entertainment Company
Majesco Entertainment Company is an innovative developer, marketer, publisher and distributor of interactive entertainment for consumers around the world. Building on more than 25 years of operating history, Majesco develops and publishes a wide range of video games on digital networks through its Midnight City label. Majesco is headquartered in Plainfield, New Jersey, and its shares are traded on The Nasdaq Capital Market under the symbol: COOL. More info can be found online at majescoent.com or on Twitter at twitter.com/majesco.

Forward-Looking Statements

Certain statements contained in this release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward looking statements contained in this release relate to, among other things, the Company's ongoing compliance with the requirements of The NASDAQ Stock Market. They are generally identified by words such as "believes," "may," "expects," "anticipates," "should'" and similar expressions. Readers should not place undue reliance on such forward-looking statements, which are based upon the Company's beliefs and assumptions as of the date of this release. The Company's actual results could differ materially due to risk factors and other items described in more detail in the "Risk Factors" section of the Company's Annual Reports filed with the SEC (copies of which may be obtained at www.sec.gov). Subsequent events and developments may cause these forward-looking statements to change. The Company specifically disclaims any obligation or intention to update or revise these forward-looking statements as a result of changed events or circumstances that occur after the date of this release, except as required by applicable law.

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