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.
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 retailers, gas stations, phone companies and others that utilize the patented payment method.
For further information about Card Activation Technologies go to www.cardactivationtech.com.
Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate," "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Card Activation Technologies, Inc. (the Company) to be materially different from those expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to the Company's ability to: (i) defend its patent; (ii) build the management and human resources and infrastructure necessary to support the growth of its business; (iii) competitive factors and developments beyond the Company's control; and (iv) other risk factors discussed in the Company's periodic filings with the Securities and Exchange Commission, which are available for review at www.sec.gov under "Search for Company Filings."