Vizio responds to MPEG-2 lawsuit

I had no idea this had even happened. Anyone else?

Irvine, CA – June 5, 2008 – VIZIO, the fastest growing brand of flat panel HDTVs in North America, announced today that it is aware of a suit filed June 2, 2008 in the U.S. District Court in Manhattan by several electronics company competitors alleging that VIZIO failed to enter into a licensing agreement for MPEG-2 video compression technology.

VIZIO’s suppliers have licenses for the MPEG-2 patents, and VIZIO believes that these licenses extend to VIZIO’s products. VIZIO has notified its suppliers of the lawsuit and expects full support and cooperation by them in the defense of the lawsuit. Accordingly, VIZIO does not believe that the suit will have a material adverse impact on VIZIO’s business.

VIZIO is working to resolve this matter with the plaintiffs and its suppliers, and it intends to defend its legal rights with vigor.