Key Developments For Shuffle Master, Inc.
Shuffle Master, Inc. (SHFL.O) (Nasdaq)
TableMAX Corporation's TableMAX Gaming, Inc. Moves For Preliminary Injunction Against Shuffle Master, Inc.
TableMAX Gaming, Inc., a wholly owned subsidiary of TableMAX Corporation announced that it and Vegas Amusement, Inc. have moved for a preliminary injunction to prohibit Shuffle Master, Inc., from making, using or selling its Table Master multiplayer video gaming device during the pendency of the parties' litigation.
Shuffle Master, Inc. Appoints Linster W. Lin Fox As New Chief Financial Officer
Shuffle Master, Inc. announced the appointment of Linster W. Lin Fox as Executive Vice President and Chief Financial Officer effective August 1, 2009.
Shuffle Master, Inc. Announces Election of CEO to Board of Directors
Shuffle Master, Inc. announced, at its Annual Meeting of Shareholders, that Timothy J. Parrott, Chief Executive Officer (CEO) of the Company, was elected to serve on the Company's Board of Directors. Parrott joined Shuffle Master on February 2, 2009 as CEO - Elect and officially commenced duties as the Company's CEO on March 15, 2009.
Shuffle Master, Inc. Announces Purchase of Intellectual Property from Elixir Gaming Technologies, Inc.; Dismisses Patent Infringement Litigation Claims
Shuffle Master, Inc. and Elixir Gaming Technologies, Inc. announced they have entered into an agreement pursuant to which Elixir Gaming has sold to Shuffle Master its intellectual property related to Elixir Gaming's card shuffling and card deck checking equipment, including the RandomPlus Shuffler, the ShufflePro Shuffler, and the DeckChecker. In connection with this acquisition, Shuffle Master will also purchase Elixir Gaming's remaining finished-goods inventory of products in this category. In addition, the Companies have agreed to dismiss all claims with prejudice pertaining to the outstanding patent infringement litigation between them. This includes the release to Shuffle Master of a $3.0 million bond, plus accrued interest, that Shuffle Master posted in 2004 in connection with an injunction that it received at that time. The total consideration paid to Elixir Gaming for these agreements is a base amount of $2.4 million, subject to adjustment related to the precise final inventory, not to exceed $2.8 million.
Shuffle Master, Inc. Files Motion To Dismiss Pending Appeal
Shuffle Master, Inc. announced that it intends to file a motion with the United States Court of Appeals for the Federal Circuit dismissing its pending appeal of the prior ruling that VendingData's Poker One shuffler did not infringe Shuffle Master's U.S. Patent No. 6,655,684, which ruling was issued in February, 2008, by the United States District Court for the District of Nevada. Although it respectfully disagrees with the District Court's ruling, Shuffle Master will file this motion because it believes that the Poker One, since its introduction, has been a commercial failure in the marketplace. Furthermore, VendingData, now known as Elixir Gaming Technologies, has indicated its intent to exit the shuffler business. In addition, Shuffle Master believes, under these circumstances, that it cannot justify spending any further attorney’s fees pursuing an appeal which, even if won, would have no practical commercial benefit to Shuffle Master. The dismissal of the appeal should have no adverse legal effect on Shuffle Master's pending motion for the release of its $3 million cash bond, which it posted when it obtained the preliminary injunction in November 2004, nor on VendingData's motion seeking attorney’s fees. Shuffle Master believes, as a matter of law, that it should be successful on both motions.
