|By Marketwired .||
|March 20, 2014 10:34 AM EDT||
NEW YORK, NY -- (Marketwired) -- 03/20/14 -- SmartMetric, Inc. (OTCQB: SMME) expects that its motions which it has brought in its patent infringement law suit against both Visa and MasterCard to be heard by the US Federal Circuit Court this coming May. If, as expected, the Court's hearing is held in May, then a ruling can be reasonably expected by June 2014, according to SmartMetric's President and CEO Chaya Hendrick. Of course this is a guideline and is subject to scheduling that is yet to be made by the Court.
SmartMetric is asking the Federal Circuit Court to make a ruling on its motions before the Court that both defendants, Visa and MasterCard are in control of the EMV technology used on the new chip credit and debit cards and therefore are liable as patent infringing parties. In representations to the court Visa and MasterCard have denied they "control" the offending technology therefore should not be held liable. SmartMetric believes this to be a preposterous position of the card company's especially in the light that both company's expert witnesses under oath in deposition have acknowledged that Visa and Mastercard do control the technology.
SmartMetric is the owner of a United States Patent & Trade Mark Office issued patent referred to as the "464" patent in the SmartMetric infringement lawsuit brought by SmartMetric, Inc. against defendants Visa Inc. and MasterCard International covering the use of cards (EMV Cards) that are used to make connections to a network after insertion into a card reader.
Some millions of EMV cards have already been issued in the United States as part of the ongoing EMV adoption and roll out throughout the USA that has now been accelerated in the light of the Target card security breach. SmartMetric has also asked the Federal Circuit Court to rule on SmartMetric's claim of 25% of the economic benefit flowing from the claimed infringing use of EMV cards in the United States.
SmartMetric, Inc. (OTCQB: SMME) is the owner of a USPTO issued patent covering the use of smartcards (EMV cards are smart cards) that connect to networks. The company develops biometric smart cards including EMV and access control cards used for payments, security and identification. For information on SmartMetric and its technology please go to www.smartmetric.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.
Chaya C. Hendrick
President & CEO