Adeia Inc. Files Lawsuit Against Shaw Cablesystems for Breach of Contract

Adeia Inc., the renowned R&D and intellectual property licensing company, has recently announced that it has filed a federal breach-of-contract lawsuit against Shaw Cablesystems G.P. and Shaw Satellite G.P. The lawsuit has been filed in the Southern District of New York. Adeia alleges that Shaw breached its obligations under its license agreement following its acquisition by Rogers Communications earlier this year.

Paul E. Davis, the CEO of Adeia, expressed disappointment over Shaw’s refusal to honor its license agreement or engage in business discussions to resolve the issue amicably. Consequently, Adeia was left with no choice but to bring the current lawsuit to enforce its contractual rights.

Adeia has been at the forefront of advanced research and development in the media and entertainment industry, creating market-leading technologies that enhance digital experiences for consumers worldwide. The company continues to invest in innovations that add value to its customers’ offerings and improve the way people explore and experience entertainment.

Despite the breach by Shaw, Adeia remains optimistic about its financial outlook for 2023. The company anticipates its non-GAAP operating margin to be at or above the midpoint of its previously provided annual financial outlook. While revenue is expected to be at the lower end of the range, non-GAAP operating expenses are projected to be at the low end of the range.

Adeia is committed to protecting its rights by enforcing the terms of its license agreements. The company’s IP portfolios power connected devices that touch the lives of millions of people worldwide, contributing to their daily experiences as they live, work, and play.

For more information about Adeia and its innovative technologies, please visit www.adeia.com.

Safe Harbor Statement:
This press release contains forward-looking statements that involve risks and uncertainties. These statements are based on information available to Adeia as of the date of the press release, as well as the company’s current expectations, assumptions, estimates, and projections. Actual results may differ materially from those expressed in the forward-looking statements due to various factors. Adeia advises caution in relying on forward-looking statements and highlights the importance of considering the risks and uncertainties outlined in the company’s filings with the U.S. Securities and Exchange Commission.

Contact:
Investor Relations
Chris Chaney
IR@adeia.com

Media Relations
Stephanie Stocker
Conveyor Marketing
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