Neptune Technologies & Bioressources
TSX: NTB - NASDAQ: NEPT
Basic Shares: 60.0 million
Fully diluted: 67.5 million
In January, Neptune filed an official complaint against its krill oil competitors with the U.S. International Trade Commission (USITC), specifically citing Section 337 of the US Tariff Act of 1930. Today it was announced that the USITC has voted to launch an investigation into alleged patent infringements by Neptune’s competitors.
According to the notice issued by the ITC, a target date for completing the investigation will be set within 45 days after institution of the investigation. Full text of the ITC announcement can be found at http://www.usitc.gov/press_room/news_release/2013/er0411ll1.htm.
If the Commission finds a violation of Section 337, the possible outcomes are as follows:
“The Commission is authorized under Section 337 to issue two types of remedial orders; exclusion orders and cease and desist orders. Both types of orders may be issued in the same case. An exclusion order directs the U.S. Customs and Border Protection to exclude articles from entry into the United States. A cease and desist order directs a respondent in the Commission investigation to cease its unfair acts; including selling infringing imported articles out of U.S. inventory. Unlike exclusion orders, cease and desist orders are enforced by the Commission, not by U.S. Customs and Border Protection.”