CHICAGO — 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 said that the Company has made significant progress as it continues to seek licenses for its patent.
During 2009, Card entered into separate Settlement and Non-Exclusive License Agreements with ten major retailer, restaurant and supermarket chains including their affiliates. The terms of these Settlement and Non-Exclusive License Agreements are confidential. On September 9, the United States District Court for the Northern District of Illinois, Eastern Division, issued an extremely favorable report and recommendation to Card on claims construction issues concerning its patent. On October 13, Card Activation retained Stinson Morrison Hecker LLP, one of the nations largest law firms, to assist Orum and Roth LLP with the prosecution of the company’s patent infringement lawsuits. On November 3, Card announced that they would file up to 45 additional lawsuits against major retailers. Card anticipates filing additional lawsuits to protect and enforce its patent during 2010.
Source: Card Activation Technologies Inc.