SOURCE: On Track Innovations Ltd.

On Track Innovations Ltd.

February 06, 2014 08:31 ET

Court Approves OTI's Request to Include Indirect Damages in Lawsuit Against T-Mobile

ROSH PINA, ISRAEL--(Marketwired - Feb 6, 2014) -  On Track Innovations Ltd. (OTI) (NASDAQ: OTIV), a global provider of near field communication (NFC) and other cashless payment solutions, reported that the U.S. District Court for the Southern District of New York has approved OTI's motion to allow it to amend its complaint against T-Mobile to add indirect infringement (active inducement) of OTI's U.S. Patent No. 6,045,043.

The case, alleging that T-Mobile near field communication (NFC) phones infringe OTI's '043 patent was filed in March 2012 and is pending in the District Court for the Southern District of New York.

About OTI
On Track Innovations Ltd. (OTI) is a leader in contactless and NFC applications based on its extensive patent and IP portfolio. OTI's field-proven innovations have been deployed around the world to address NFC payment solutions, petroleum payment and management, cashless parking fee collection systems and mass transit ticketing. OTI markets and supports its solutions through a global network of regional offices and alliances. For more information, visit www.otiglobal.com.

Safe Harbor for Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Because such statements deal with future events and are based on OTI's current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of OTI could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained in this press release are subject to other risks and uncertainties, including those discussed in the "Risk Factors" section and elsewhere in OTI's annual report on Form 20-F for the year ended December 31, 2012 and in subsequent filings with the Securities and Exchange Commission. Except as otherwise required by law, OTI disclaims any intention or obligation to update or revise any forward-looking statements, which speak only as of the date hereof, whether as a result of new information, future events or circumstances or otherwise.

The content of websites or website links mentioned or provided herein are not part of this press release.

Contact Information

  • OTI Contact:
    Dimitrios Angelis
    CEO of OTI America
    Email Contact

    Investor Contact:
    Scott Liolios or Matt Glover
    Liolios Group, Inc.
    949 574 3860
    Email Contact