SmartMetric Files Opening Brief in the Federal Circuit Court in Its Patent Infringement Lawsuit Against Visa Inc. & MasterCard International Claiming $13.4 Billion
January 2, 2014 - NEW YORK, NY
SmartMetric, Inc. (OTCQB: SMME) -- Speaking today from NEW YORK, SmartMetric Inc. President & CEO Chaya Hendrick said that on December the 23rd it filed in the Federal Circuit Court its opening brief in its continuation of the SmartMetric patent infringement litigation against Visa Inc. and MasterCard International. We have presented to the court powerful argument in support of our claim against the defendants for patent infringement and we welcome the Court's adjudication of this matter. It is expected that in the normal cause of events the matter will be heard in either April or May with a judgment being handed down soon thereafter.
SmartMetric is asking the Court to find against the Defendants actual infringement and is seeking the Court to rule that royalty and damages should be clearly based on the economic value of the use of the patented technology in fraud savings by the Defendants, Visa and MasterCard. According to earlier Court filings, SmartMetric is claiming $13.4 billion in damages and pre-paid royalties based on the economic value of savings in fraud as a direct result of the use of the SmartMetric technology as detailed in its issued patent.
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