BRIEF-Xeriant Initiated Legal Proceedings Against XTI Aircraft Company In Federal District Court For Southern District Of New York

Reuters2023-12-13

Dec 12 (Reuters) - Inpixon :

* XERIANT INC - INITIATED LEGAL PROCEEDINGS AGAINST XTI AIRCRAFT COMPANY IN FEDERAL DISTRICT COURT FOR SOUTHERN DISTRICT OF NEW YORK

* XERIANT INC - BELIEVES COMPLETED DESIGNS OF TRIFAN 600, A PRODUCT OF CO'S SIGNIFICANT INVESTMENT, ARE INTEGRAL TO XTI'S IMPENDING MERGER WITH INPIXON

* XERIANT-XTI INDUCED SUBSTANTIAL INVESTMENTS FROM CO IN MILLIONS OF DOLLARS WITH VALUABLE INTELLECTUAL PROPERTY, FOR DEVELOPMENT OF TRIFAN 600 VTOL

* XERIANT - SEEKING REMEDIES INCLUDING RECOVERY OF LOSSES, EXPENSES, ATTORNEYS' FEES, PUNITIVE DAMAGES, COMPENSATORY DAMAGE AWARD OF OVER $500 MILLION

* XERIANT - PURSUING COURT ORDER TO ENJOIN FURTHER "MISAPPROPRIATION" OF JOINTLY OWNED TRIFAN 600 DESIGNS, TO PREVENT ADDITIONAL BREACHES OF CO'S RIGHTS

Source text for Eikon: Further company coverage:

((Reuters.Briefs@thomsonreuters.com;))

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