NRT Technology Corp.

NRT Technology Corp.

May 24, 2016 17:24 ET

NRT Technology Corp. Was Granted yet Another Victory Against Everi Holdings in Patent Dispute

TORONTO, ONTARIO and LAS VEGAS, NEVADA--(Marketwired - May 24, 2016) - NRT Technology Corp. of Toronto, Canada, and its U.S. operating entity-NRT Technologies, Inc. of Las Vegas, Nevada-continued, on May 16, a trend of legal victories against Everi Holdings Inc. This most recent triumph before the International Trade Commission (ITC) in Washington, D.C. again concerns Everi's allegations that NRT infringed U.S. patent number 6,081,792 with respect to certain functionalities purportedly found in NRT's industry leading ticket redemption and payment kiosks. NRT's kiosks can be found in premier gaming establishments throughout the United States and the world.

The ITC-in its most recent decision-issued a Notice of Commission Decision to Review an Initial Determination Granting a Motion for Summary Determination of the Invalidity of the Asserted Patent Claims, And on Review Affirming the Initial Determination. In short, the ITC provided notice that further to the Commission's review of the presiding administrative law judge's initial determination, which granted a motion for summary determination of invalidity, the Commission affirmed the finding of invalidity by the administrative judge. The ITC has now-not once, but twice-found the Everi patent to be invalid.

The Commission noted that "Everi has not argued any error in ... determination of the level of skill in the art" and that "NRT demonstrated by clear and convincing evidence that the claim language, when read in light of the specification and prosecution history, fails to inform, with reasonable certainty, those skilled in the art about the scope of the invention." Specifically, the Commission found the Everi patent to be "ambiguous." The Commission also specifically comments on the evidentiary testimony presented by the parties. The Commission noted that "NRT's expert testimony [was] credible" while "Everi's expert's testimony is not credible".

"We remain pleased with the outcome of the proceedings at ITC," said Jin Shin, General Counsel for NRT. "It is unfortunate for Everi's stockholders and investors that Everi continues to attempt to enforce this clearly invalid patent. The Commission has -- time and again -- agreed with NRT and disagreed with Everi in this ill-advised litigation. We see no choice for Everi going forward but to withdraw its action."

Notwithstanding this most recent victory, Everi has continued to suggest to its customers that its patent remains valid. The most recent example of such a statement occurred during its Q1 2016 conference call. During that call, Everi informed the investing public that its patent has not been invalidated, "so if somebody wants to go against it, and we ultimately prevail, we would have the ability to go back, and they could be liable." In response to this statement, and to give the consuming public absolute certainty as to the invalidity of the Everi patent-NRT commenced a new Covered Business Method Review proceeding at the United States Patent Office. Such a proceeding would offer the Patent Office an opportunity to likewise invalidate the Everi patent.

"We think it is critical that there be no doubt that the Everi patent is invalid and no longer enforceable," continued Mr. Shin. "Between two victories at the International Trade Commission and a similar defeat for Everi in the United States District Court for the District of Nevada, we will hopefully strike a final death knell with yet another adjudicative body recognizing that the Everi patent is undeserving of U.S. patent protection."

The International Trade Commission matter is investigation number 337-TA-958: In the Matter of Certain Automated Teller Machines and Point of Sale Devices and Associated Software Thereof. The U.S. Patent Office Patent Trial and Appeal Board proceeding is matter number CBM2016-00080.

About NRT

NRT Technology Corp. (NRT) provides the most innovative payment processing, cash handling and cash management products, services and solutions in the casino industry. NRT's world-class payment processing (cash access) solution connects to all financial institutions, giving your casino guests instant access to ATM, credit card cash advance, POS Debit, Dynamic Currency Conversion and Check Cashing Services at the cage and kiosk, all in one fully integrated package. NRT also provides turnkey applications for jackpot redemption, ticket redemption as well as other cash handling related applications. Our products are used around the globe by Casinos, Lotteries & Retailers. Visit www.nrttech.com.

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