Evident Technologies (Evident), one of New York State’s first nanotech companies, has filed for bankruptcy after being sued for patent infringement.
According to the source, Evident states that mounting legal fees associated with an ongoing patent suit over Evident’s quantum dot products had forced it to file for Chapter 11 bankruptcy after efforts to refinance its debt outside of bankruptcy failed.
Notably, Evident’s patent counsel in the case is listed in court documents as one of the company’s largest creditors, with $951,184.88 owed in attorneys’ fees.
Reprinted with permission from Portfolio Media, Inc. (http://www.law360.com)
