HARRISON, N.Y., Jan. 28,
2014 /PRNewswire/ -- MGT Capital Investments, Inc. (NYSE MKT: MGT)
announced today that the U.S. District Court for the Southern
District of Mississippi has issued
an Order setting the timeline for electronic discovery and the
Claim Construction Hearing in MGT Gaming's patent infringement
lawsuit.
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Originally filed as one lawsuit on November 2, 2012, the lawsuit has been split into
three separate cases as follows: 1) MGT Gaming, Inc. v. WMS Gaming,
Inc. et al, case number 3:13-cv-00691-CWR-FKB; 2) MGT Gaming, Inc.
v. WMS Gaming, Inc. et al, case number 3:13-cv-00692-CWR-FKB; 3)
MGT Gaming, Inc. v. Aruze Gaming America, Inc. et al, case number
3:13-cv-00693-CWR-FKB. The previously announced June 5, 2014 Claim Construction Hearing date has
been changed as all parties to the litigation agreed with the Court
to allow sufficient time for fulsome discovery.
MGT Gaming recently filed its Infringement Contentions for both
the 7,892,088 and 8,500,554 Patents. These filings as well as all
other case filings can currently be found on the PACER system at
www.pacer.gov. "We are in the process of revising our website
to include the PACER filings," said Robert
Ladd, MGT's Chief Executive Officer. "We believe that
this timely information will allow investors to make informed
investment decisions."
About MGT Capital Investments, Inc.
MGT and its subsidiaries are engaged in the business of
acquiring, developing and monetizing assets in the online and
mobile gaming space, as well as the casino industry.
MGT Gaming, a majority owned subsidiary, owns U.S. Patent
Nos. 7,892,088 and 8,500,554 relating to certain casino slot
machine systems and has filed a patent infringement lawsuit against
WMS Gaming (a subsidiary of Scientific Games Corporation), and
others. The Company also owns a majority interest in FanTD
LLC, the operator of FanThrowdown.com, one of the leading online
daily fantasy sports wagering websites. Another majority
owned subsidiary, MGT Interactive, owns REAL DEAL POKER™, an
innovative online poker technology with a patented card shuffling
system, allowing for regulatory transparency and auditability, and
a higher level of realism. MGT Studios is prepared to offer
social casino games and a skilled gaming platform that allows play
for real money.
Forward looking statements
This press release contains forward-looking statements. The
words or phrases "would be," "will allow," "intends to," "will
likely result," "are expected to," "will continue," "is
anticipated," "estimate," "project," or similar expressions are
intended to identify "forward-looking statements." MGT's financial
and operational results reflected above should not be construed by
any means as representative of the current or future value of its
common stock. All information set forth in this news release,
except historical and factual information, represents
forward-looking statements. This includes all statements about the
Company's plans, beliefs, estimates and expectations. These
statements are based on current estimates and projections, which
involve certain risks and uncertainties that could cause actual
results to differ materially from those in the forward-looking
statements. These risks and uncertainties include issues related
to: rapidly changing technology and evolving standards in the
industries in which the Company and its subsidiaries operate; the
ability to obtain sufficient funding to continue operations,
maintain adequate cash flow, profitably exploit new business,
license and sign new agreements; the unpredictable nature of
consumer preferences; and other factors set forth in the Company's
most recently filed annual report and registration statement.
Readers are cautioned not to place undue reliance on these
forward-looking statements, which reflect management's analysis
only as of the date hereof. The Company undertakes no obligation to
publicly revise these forward-looking statements to reflect events
or circumstances that arise after the date hereof. Readers should
carefully review the risks and uncertainties described in other
documents that the Company files from time to time with the U.S.
Securities and Exchange Commission.
SOURCE MGT Capital Investments, Inc.