LoJack Corp. to File Motion to Reconsider Ruling in Breach of Contract Case Against Clare, Inc.

WESTWOOD, Mass., July 26  /PRNewswire-FirstCall/ -- LoJack Corporation (NASDAQ:LOJN), the leading provider of tracking and recovery systems for stolen mobile assets, today announced that a Justice of the Superior Court of Norfolk County, Massachusetts ordered that a jury verdict in favor of LoJack in its breach of contract suit against Clare, Inc., a subsidiary of IXYS (NASDAQ:SYXI), be reduced to approximately $6,800,000 inclusive of pre-judgment interest and previously awarded attorneys fees and costs.

The basis of the decision was that a portion of the jury's verdict was not supported by trial testimony.  LoJack believes that the testimony was adequate to support the jury's verdict and that problems and delays with the production of court transcripts may have caused the relevant testimony related to product costs incurred by LoJack to have been overlooked.  LoJack will file a motion for reconsideration in the Superior Court of Norfolk County, Massachusetts.

If the motion for reconsideration is denied, LoJack will file an appeal to the Massachusetts Appeals Court.

About LoJack Corporation

LoJack Corporation, the premier worldwide marketer of wireless tracking and recovery systems for valuable mobile assets, is the undisputed leader in global stolen vehicle recovery. Its Stolen Vehicle Recovery System delivers a better than 90% success rate and has helped recover more than $3 billion in global stolen assets. The system is uniquely integrated into law enforcement agencies in the United States that use LoJack's in-vehicle tracking equipment to recover stolen assets, including cars, trucks, commercial vehicles, construction equipment and motorcycles. LoJack operates in 26 states and the District of Columbia, representing areas of the country with the greatest population density, and highest number of new vehicle sales and incidence of vehicle theft. In addition, LoJack technology is utilized by law enforcement and security organizations in more than 27 countries throughout Europe, Africa and Latin America. Boomerang Tracking, Inc., the dominant marketer of stolen vehicle recovery technology in Canada operates as a wholly owned subsidiary of LoJack Corporation.

  Contact:
  Paul McMahon
  [phone]

  John Swanson
  Swanson Communications, Inc.
  [phone]


DATASOURCE: LoJack Corporation



CONTACT:  Paul McMahon of LoJack Corporation, [phone]; or John

Swanson of Swanson Communications, Inc., for LoJack Corporation,

[phone] 



Web site:  http://www.lojack.com/ 

Copyright