Press Release |
Card Activation Technologies, Inc. Receives Ruling on Claims Construction Issues
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CHICAGO--(Business Wire)-- Card Activation Technologies (OTCBB: CDVT), owners of a patented point-of-sale technology for the activation and processing of transactions related to debit styled cards, which include gift cards, phone cards and other stored value cards, today announces that a court has issued a report and recommendation on the claims construction issues involved in one of Card Activation`s patent infringement lawsuits, Card Activation Technologies, Inc. v. McDonalds et al., Case No. 06 C 5578 pending in the United States District Court for the Northern District of Illinois, Eastern Division. Mark Roth of Orum & Roth, LLC, one of Card Activation's litigation attorneys, stated, "We view the judge`s decision as being extremely favorable to Card Activation, and its pursuit of infringers of Card Activation`s patent. The ruling will, in our opinion, help solidify our position on all parties` infringement of the patent involved in Card Activation`s various lawsuits." About Card Activation Technologies Card Activation Technologies, Inc. is a Chicago-based company that owns proprietary patented payment transaction technology used for processing gift cards, phone cards and other debit purchase transactions. The company is actively seeking to license its technology to the thousands of current users and believes that many retailers, gas stations, phone companies and others that utilize those stored value cards, such as gift and debit cards, infringe its patent. As a result, the company is aggressively pursuing litigation against these infringements. The Federal Reserve Bank of Philadelphia estimated the prepaid card market to be valued in excess of $181.7 billion in transactions in 2006. According to market forecasts, the prepaid industry will grow to $421.5 billion by 2010. For further information about Card Activation Technologies go to www.cardactivationtech.com. Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate," "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Card Activation Technologies, Inc. (the Company) to be materially different from those expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to the Company's ability to: (i) defend its patent; (ii) build the management and human resources and infrastructure necessary to support the growth of its business; (iii) competitive factors and developments beyond the Company's control; and (iv) other risk factors discussed in the Company's periodic filings with the Securities and Exchange Commission, which are available for review at www.sec.gov under "Search for Company Filings." Card Activation Technologies, Inc. Robert H. Kite, 602-692-3154 Copyright Business Wire 2009