SOURCE: Strikeforce Technologies, Inc.
EDISON, NJ--(Marketwire - Mar 28, 2013) - StrikeForce Technologies, Inc. (OTCBB: SFOR) announced today that it has initiated patent litigation against PhoneFactor, Inc., a subsidiary of Microsoft Inc., Fiserv, Inc., and First Midwest Bancorp, Inc. in the U.S. District Court for the District of Delaware in Wilmington, for infringement of United States Patent No. 7,870,599 (the "'599 Patent").
The '599 Patent, entitled "Multichannel Device Utilizing A Centralized Out-of-Band Authentication System (COBAS)," relates to several key technologies underlying a multichannel security system for granting and denying access to a host computer in response to a demand from an access-seeking individual and computer. The '599 Patent was granted by the United States Patent and Trademark Office on January 11, 2011. A reexamination certificate issued after a successful Ex Parte Reexamination concluded on December 27, 2011.
StrikeForce has retained Blank Rome LLP, a national law firm, to represent it in the litigation. "The engagement of a law firm of such quality and reputation to pursue infringement claims under our Out-of-Band patent further strengthens our ability to protect our Intellectual Property (IP), which we worked diligently for many years to develop," commented Mark L. Kay, CEO of StrikeForce.
There has been a sharp rise in cyber-attacks recently, especially with RSA being hacked in March of 2011. This increase in cyber-attacks and the strengthening of regulations, such as the FFIEC in the financial market and HIPAA HiTech and Electronic Protected Healthcare Information (ePHI) in the healthcare market, are prompting an exponential increase in the use of Out-of-Band authentication. StrikeForce has initiated a program to protect its proprietary IP, which was invented by its current CTO based on his vast telecommunications experience. Mr. Kay stated, "In light of our having been granted the '599 Patent, and with increased activity in various markets by enterprises, government agencies and social media, StrikeForce will aggressively protect its patent. Therefore, we have filed today our first lawsuit designed to protect this critical StrikeForce asset, which is definitely increasing in importance with consistently troubling news about cyber-attacks and cyber thefts. We will take whatever action is necessary to protect our intellectual property rights and maximize shareholder value."
ABOUT STRIKEFORE TECHNOLOGIES, INC.
StrikeForce Technologies helps to prevent online identity theft and data security breaches for consumers, corporations, and government agencies. It provides powerful two-factor, "Out-of-Band" authentication and keystroke encryption solutions. StrikeForce Technologies, Inc. (OTCBB: SFOR) is headquartered in Edison, N.J., and can be reached at www.strikeforcetech.com or by phone at (732) 661-9641 or toll-free at (866) 787-4542.
Safe Harbor Statement:
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the sales of the company's identity protection software products into various channels and market sectors, the issuance of the company's pending patent application, and the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the company.