Card Activation Wins Significant Court Ruling
March 25 2008 - 5:00AM
PR Newswire (US)
CHICAGO, March 25 /PRNewswire-FirstCall/ -- Card Activation
Technologies, Inc. (OTC:CDVT) (BULLETIN BOARD: CDVT) , owners of a
patent covering a method for the activation and processing of
transactions related to debit styled cards, which include gift
cards, phone cards and other stored value cards, announced that
Card Activation Technologies, Inc. won a significant court ruling
on March 20, 2008, in its lawsuit against major retailers Barnes
& Noble, Inc.(NYSE:BKS) and Aeropostale, Inc.(NYSE:ARO). Barnes
& Noble and Aeropostale sought to invalidate the Card
Activation patent in that litigation. Federal District Court Judge
Joan B. Gottshall entered a decision, however, refusing to accept
Barnes & Noble and Aeropostale's position that Card
Activation's patent is invalid. Mark Roth of Orum & Roth LLC,
one of Card Activation's attorneys, deemed the ruling very
significant for Card Activation's litigation and licensing efforts.
"Card Activation's victory on this motion significantly strengthens
our position in this, and other cases. The court's decision
furthers our belief in the strength of the patent and our claims
against those entities that we have sued as well as those entities
that we have contacted to discuss taking a license under the
patent," said Mr. Roth. The Card Activation patent relates to a
method used by most retailers for processing debit styled cards,
which include gift cards and phone cards. Card Activation currently
has lawsuits pending against Walgreen Company (NYSE:WAG), Sears
Holding Corporation (NASDAQ:SHLD), TJX Companies (NYSE:TJX) and
OfficeMax (NYSE:OMX), as well as Barnes & Noble and
Aeropostale. Card Activation has also placed on notice
approximately 600 retailers relating to their potential
infringement of the patent. Card Activation Technologies, Inc. is a
Chicago-based company that owns proprietary patented payment
transaction technology used for processing gift cards, phone cards
and other debit purchase transactions. The company is actively
seeking to license its technology to the thousands of current users
and believes that many retailers, gas stations, phone companies and
others that utilize those stored value cards, such as gift and
debit, infringe its patent. As a result, the company is
aggressively pursuing litigation against these infringements. The
Federal Reserve Bank of Philadelphia estimated prepaid card market
to be valued in excess of $181.7 billion in transactions in 2006.
According to market forecasts, the prepaid industry will grow to
$421.5 billion by 2010. For further information about Card
Activation Technologies go to http://www.cardactivation.com/
Certain statements in this press release that are not historical
facts are "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. Such statements
may be identified by the use of words such as "anticipate,"
"believe," "expect," "future," "may," "will," "would," "should,"
"plan," "projected," "intend," and similar expressions. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual results,
performance or achievements of Card Activation Technologies, Inc.
(the Company) to be materially different from those expressed or
implied by such forward-looking statements. The Company's future
operating results are dependent upon many factors, including but
not limited to the Company's ability to: (i) defend its patent;
(ii) build the management and human resources and infrastructure
necessary to support the growth of its business; (iii) competitive
factors and developments beyond the Company's control; and (iv)
other risk factors discussed in the Company's periodic filings with
the Securities and Exchange Commission, which are available for
review at http://www.sec.gov/ under "Search for Company Filings."
Contacts for Card Activation Technologies Bev Jedynak Paul Knopick
Martin E. Janis & Company Inc. E & E Communications
312-943-1123 (949) 707-5365 DATASOURCE: Card Activation
Technologies, Inc. CONTACT: Bev Jedynak of Martin E. Janis &
Company Inc., +1-312-943-1123, ; or Paul Knopick of E & E
Communications, +1-949-707-5365, , both for Card Activation
Technologies, Inc. Web site: http://www.cardactivation.com/
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