SOURCE: SmartMetric, Inc.
NEW YORK, NY--(Marketwired - Oct 18, 2013) - SmartMetric, Inc. (OTCQB: SMME) - Speaking today from New York, SmartMetric™, Inc. President & CEO Chaya Hendrick said following a hearing on August 25th, 2013, SmartMetric, Inc. the owner of issued patent "464" that is the subject of a patent infringement case claiming $14.5 Billion against both Visa Inc and MasterCard International by SmartMetric, Inc. for patent infringement and damages, has filed in the Federal Appeals Court an appeal against the courts ruling of non-infringment by Visa Inc. and MasterCard International. The same court ruled against a motion by Visa and MasterCard to have the patent ruked invalid. So it stabds that SmartMetric's "464" patent is a valid patent.
As announced yesterday by SmartMetric, the company is pleased that the defendants, Visa and MasterCard failed in having the Court rule that the SmartMetric issued patent is invalid. What now is at contention and the heart of the appeal to the Federal Court, is the question of who is the infringinging party in the case. The conpany will show evidence previously presented to the Court that in the considered legal opinion of SmartMetric's highly experienced legal counsel, the evidence demonstrates the control of claimed infringing technology by both defendants, Visa and MasterCard. It is a matter of law that a controlling party can be held liable for acts of patent infringement.
This is not the first time SmartMetric has taken a lower courts decision on appeal to Federal Appeals Court. In a previous trial against the defendant's, Visa Inc. and MasterCard International, SmartMetric appealed a marksmen ruling that the "464" patent as written does not cover "contactless" NFC cards. SmartMetric also appealed the lower Courts ruling that gave a limited and narrow interpretation to what constitutes "networks" in the "464" SmartMetric patent. The Federal Appeals Court did rule against SmartMetric on the question of contactless NFC cards ruling that such cards were not covered since the patent in claim 1. refers to "" the "insertion" of a card into a reader. However, the Federal Appeals Court ruled in favour of SmartMetric on the question of networks in overturning the lower courts restrictive definition of networks. The Federal Appeals Court also confirmed the lower courts ruling that the "464" patent does in fact cover "SmartCards" that are "inserted into" a card reader. While SmartMetric lost on contactless cards, it won on the substantive matters of networks and smartcards. Being no stranger to the Federal Appeals Court and winning, SmartMetric is extremely confident as it once again presents its case to the panel of three seasoned and experienced Judges.
As stated in a media release by the company yesterday, "SmartMetric, Inc. welcomed the Court ruling yesterday in dismissing the attempt to invalidate our Patent by the Defendants and is looking forward to a very positive legal outcome of this matter as it moves forward in the Courts," said the company President Chaya Hendrick.
For further information on SmartMetric and its technology please go towww.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.