July 05, 2011 07:30 AM Eastern Daylight Time
Court Issues Adverse Opinion on Card Activation’s ‘859 Patent Validity
CHICAGO--(BUSINESS WIRE)--Card Activation Technologies Inc. (Pink Sheets: CDVT), owners of a patented point-of-sale technology for the processing of transactions related to debit styled cards, which include gift cards, phone cards and other stored value cards (the ‘859 Patent), today announces that the United States District Court for the District of Delaware issued its opinion on SVS and CAT’s cross-motions for summary judgment on July 1, 2011. The Court’s ruling is adverse to CAT and the validity of the ‘859 Patent. This ruling, while appealable, is also expected to have an impact on the reexamination proceedings pending in the U.S. Patent and Trademark Office. CAT is currently considering its options in moving forward.
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