SmartMetric, Inc. Provides Update on Status of Patent Infringement Litigations and Settlement Discussions
December 16 2010 - 9:35AM
Marketwired
SmartMetric, Inc. (OTCBB: SMME) SmartMetric announced today that it
has filed SEC Form 8-K updating the status of its patent
infringement litigations and ongoing settlement discussions. A copy
of the SEC 8-K filing can be read here:
http://www.sec.gov/Archives/edgar/data/1301991/000101376210003051/form8k.htm
C. Hendrick, SmartMetric President & CEO stated: "One of the
two named defendants in Case No. CV10-9371 JHN (MANx, US District
Court, Central District of California) has made a settlement offer
that SmartMetric referred to its Board of Directors for
consideration. SmartMetric has rejected this settlement proposal.
Settlement talks with the same single defendant are ongoing, and
Company Management continues to believe that additional settlement
proposals will be discussed and that these proposals may be
referred to the Company's Board of Directors for consideration.
However, as previously stated, there can be no assurance that any
future settlement proposals will be made, or, if additional
settlement proposals do result, there can be no assurance that such
future proposals will be accepted by the Company's Board of
Directors. The Company may elect, at any time, to settle with any
one of the defendants in Case No. CV10-9371; with any combination
defendants, or with all defendants. In the alternative, the Company
may choose to discontinue settlement talks with any named
defendant; and proceed to trial and/or summary adjudication with
all named defendants."
About SmartMetric, Inc. SmartMetric, Inc.
has developed a portable biometric identity and transaction card
capable of storing a wide variety of personal information while
protecting you against identity theft and fraud. It is one of the
most advanced portable identity authentication solutions in the
world today. The card contains a biometric fingerprint scanner and
reader which only you can unlock and is smaller and thinner than a
credit card. The SmartMetric card is ideal for a wide range of
consumers, including Personal, Government and Corporate.
For more information please visit us at www.smartmetric.com
Safe Harbor Statement Certain of the above statements contained
in this press release are forward-looking statements that involve a
number of risks and uncertainties. Such forward-looking statements
are within the meaning of that term in Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934. Readers are cautioned that any such forward-looking
statements are not guarantees of future performance and involve
risks and uncertainties, and that actual results may differ
materially from those indicated in the forward-looking statements
as a result of various factors.
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Investor Contact: Redwood Consultants, LLC (415) 524-8500
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