When their '859 patent (re: gift cards) was invalidated, it took the wind out of Card Activation's sails. Dozens of lawsuits against major retailers were invalidated along with their '859 patent. The company has been called a "patent troll" by more than one publication. Earlier in the week, this blog reported that Card Activation was looking to shareholders for ideas on how to pursue the appeal process without further diluting their shares. Either someone had an idea or Card Activation decided to move forward with the Appeals process regardless of shareholder dilution. Doesn't matter. Shares were worthless upon the invalidation of the patent and a successful appeal will get them trollin' along again.
August 05, 2011 07:01 AM Eastern Daylight Time
August 05, 2011 07:01 AM Eastern Daylight Time
CHICAGO--(BUSINESS WIRE)--Card Activation Technologies Inc. (Pink Sheets: CDVT)—Card filed its Notice of Appeal in the United States District Court for the District of Delaware on Thursday, August 4, 2011. This is the first step toward having its appeal heard in the United States Court of Appeals for the Federal Circuit, the exclusive jurisdictions for appeals relating to patent validity and infringement issues. Card is appealing from a July adverse ruling by the Delaware Court that invalidated its Patent.
About Card Activation Technologies Inc.
Card Activation Technologies, Inc. is a Chicago-based company that owns the patent rights to a proprietary payment transaction method used for processing gift cards and other debit purchase transactions. The company is actively seeking to license its patent to the thousands of current users and believes that many retailers, gas stations, phone companies and others that utilize those stored value cards, such as gift and debit cards, infringe its patent. As a result, the company is aggressively pursuing litigation against these infringers.
For further information about Card Activation Technologies go to www.cardactivationtech.com
