SmartMetric Continues With Its Patent Infringement Case Against the Defendants Visa & MasterCard -- Defendants Fail in Seekin...
October 21 2013 - 9:25AM
Marketwired
SmartMetric Continues With Its Patent Infringement Case Against the
Defendants Visa & MasterCard -- Defendants Fail in Seeking From
the Court a Motion to Invalidate the SmartMetric "464" Patent
SmartMetric Continues With Its Case of Patent Infringement
Claiming $13.4 Billion as Filed in the US Federal District
Court
BAY HARBOR, FL--(Marketwired - Oct 21, 2013) - SmartMetric, Inc.
(OTCQB: SMME) --
Speaking today from the company's offices in Bay Harbor,
SmartMetric™ Inc. President & CEO Chaya Hendrick said on
October 16th, 2013, the District Court in California ruled that
Visa Inc and MasterCard International's counterclaims including
Invalidity of the "464" Patent be dismissed.
Defendants Visa Inc. and MasterCard International submitted to
the Federal District Court a request for dismissal of Counter
Claims in exchange for a Declaratory Judgment of Invalidity of the
"464" issued Patent, owned SmartMetric, Inc. The Defendants sought
in the first instance an agreement by consent from the Plaintiff,
SmartMetric, Inc., to agree that the "464" Patent was in fact an
invalid Patent in exchange for the Defendants, Visa Inc. and
MasterCard International withdrawing their counterclaims against
SmartMetric, Inc.
SmartMetric, Inc. refused to agree that its issued Patent was
invalid in exchange for the withdrawal of Defendant's counterclaims
against SmartMetric, Inc. Without any agreement being granted by
SmartMetric, Inc. to the Defendant's the Federal District Court on
October 16th dismissed the counterclaims of the Defendant's
including their request that the Court find and make a ruling of
invalidity of the SmartMetric, Inc. "464" Patent.
Speaking today, the President & CEO of SmartMetric, Inc.
said the company's issued patent still stands as a valid Patent.
The arguments presented by the Defendant's in saying that in
essence a few earlier issued Patents covered the same invention of
the "464" have in the company's opinion been shown to be completely
erroneous and represent a tissue thin argument in defence against
the claims of Patent infringement by SmartMetric, Inc. As we move
forward with our case for Patent Infringement against both Visa
Inc. and MasterCard International it will be clearly shown that our
claim for $13.4 Billion in royalty and damages filed in the Court
is both fair and reasonable. In fact the company could claim even
more considering the economic benefit that arises from the
infringement of the SmartMetric, Inc. Patent in the considered view
of the Company. The company is very pleased with the dismissal of
the Defendant's counterclaims and their attempt to have the Court
invalidate the "464" Patent. This is a win for a small technology
company and its shareholders against arguably the largest financial
institutions in the world, she said.
For further information on SmartMetric and its technology please
go to www.smartmetric.com. For information on the SmartMetric™
MedicalKeyring™ please go to www.medicalkeyring.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. MedicalKeyring™ and SmartMetric™
are trademarks of SmartMetric, Inc.
Contact Information Investor Relations: Jens Dalsgard
ConstellationAA.com Office: 775.771.5808 SmartMetric, Inc. Ms.
Chaya C. Hendrick President & CEO Direct: 786.269.2238
ceo@smartmetric.com
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