Here is a copy of the press release from today (7/2/2013) discussing the settlement of the lawsuit concerning AimPoint Technologies and Vector Putting, LLC.
“AimPoint Technologies (AimPoint) has agreed to settle its lawsuit against Vector Putting LLC (Vector), Michael Schy, and David Balbi for a Consent Final Judgment, a Permanent Injunction, and a Retraction of incorrect statements.
As part of the Settlement Agreement, Vector, Schy and Balbi have made the following statement:
“To the extent Vector Putting, LLC, Michael Schy and David Balbi have created confusion in the marketplace and to correct or set the record straight, Vector Putting, LLC, Michael Schy and David Balbi started their business utilizing AimPoint Technologies’ data and methods. AimPoint Technologies’ business is not based upon Templeton methods or calculations and statements by Vector Putting, LLC, Michael Schy and David Balbi claiming or inferring that AimPoint Technologies has copied or utilized Templeton are incorrect. Based upon the above retraction by Vector Putting, LLC, Michael Schy and David Balbi and other terms contained in a Settlement Agreement, AimPoint Technologies has agreed to settle its claims against Vector Putting, LLC, Michael Schy and David Balbi in pending litigation.”
AimPoint filed a lawsuit against Vector, Schy and Balbi in United States District Court in the Middle District of Florida on Jan. 13, 2012 (Gamecraft, LLC et al v. Vector Putting, LLC et al, Case Number: 6:12-cv-00051-JA-KRS) which included claims against Vector and two of its founders, Michael Schy and David Balbi for False Advertising, Unfair Competition, Conversion, and Tortious Interference. Defendants Schy and Balbi were both former AimPoint Certified Instructors, who, shortly after their certifications were revoked, launched Vector Putting LLC in 2011.
Mark Sweeney, Founder and Managing Member of AimPoint Technologies, issued the following statement:
“Our goal in this action has always been to protect our intellectual property and to set the record straight in the market regarding incorrect statements made by Vector and its representatives.”
Vector Putting, LLC is based in San Carlos, CA and was founded by Michael Schy, David Balbi, and David McDougal and names Nick Middleton of Zen Oracle as their Director of Operations, Europe and Asia.”
The link for the press release is http://www.prweb.com/releases/2013/7/prweb10890044.htm