Recent Court Ruling on Patent Definitions in the SmartMetric vs Visa & MasterCard Patent Infringement Case Clearly Makes the New
June 22 2011 - 10:17AM
Marketwired
SmartMetric, Inc. (OTCBB: SMME) President & CEO C. Hendrick
announced today that the company will pursue its infringers of its
Patent based on the recent court ruling on definitions handed down
one month ago in the United States District Court.
Wells Fargo Bank, J P Morgan Chase Bank, US Bank and Silicon
Valley Bank have all announced within the past months the issuance
of EMV standard "contact" chip Banking Cards.
SmartMetric, Inc. alleges some of the largest
Banks along with Visa are directly infringing the SmartMetric
Patent that is already subject to Patent Infringement litigation
against Visa and MasterCard.
Last month a ruling was handed down by U.S. District Judge
Jacqueline H. Nguyen siding with SmartMetric, Inc. on the most
important definitions in its Patent. One definition out of the
seven that were in dispute between the defendants, Visa and
MasterCard and SmartMetric, was dealing with the use of contactless
chip cards.
SmartMetric has decided to appeal this one definition
interpretation in order for it to move forward with its claims of
infringement regarding contactless chip cards. However the
President and CEO of SmartMetric, C. Hendrick, says the rulings of
the court on the other disputed definitions leave no doubt that the
newly issued "contact" chip cards by some of the biggest Banks in
the United States clearly fall within the definitions of its Patent
and the company will pursue all infringements by all parties
including Visa and MasterCard.
American Banks have to adopt the "contact" EMV chip cards since
many of the retail credit card machines and ATM machines in most
parts of the World no longer accept magnetic strip Credit Cards.
This has been admitted by Wells Fargo and Chase as the reason it is
now being forced to issue EMV contact chip cards to its customers
in the United State. SmartMetric will enforce its
rights and will demand either a license fee or seek relief from the
courts to stop these Banks and the major card labels, Visa &
MasterCard from issuing these cards.
The courts recent ruling last month on key definitions in the
SmartMetric Patent re-enforces what SmartMetric has said all along.
The company has a valid Patent and it is being infringed. The
company will force its rights in the courts against even the most
powerful of infringers. The company President &CEO, C. Hendrick
said, after all, this is the great thing about America. It has a
court system that protects the small inventor or technology company
against arrogance and hubris of large corporations who ignore the
ownership rights of smaller persons or corporations. Hendrick
further said the Courts have a duty and they regularly fulfill this
duty of protecting the rights of the small against the abuse by the
powerful.
About the SmartMetric:
The SmartMetric, Biometric Card Computer provides powerful
computing with large memory capacity in a revolutionary size that
has taken more than 10 years of research and development. Using the
latest in sub micro technology electronics, the company has
achieved a level of miniaturization that allows it to release a
solution of portable computing power that combined with
SmartMetric's biometric fingerprint in-card scanning technology, is
so revolutionary it will change the way business is done and
information is handled across a broad range of industries. For
further information please go to the company website:
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: Constellation Asset Advisors, Inc. +1
(415) 524-8500 Company Contact: C. Hendrick President & CEO
SmartMetric, Inc. +1.305.607.3910 Email Contact
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