Florida-based SmartMetric, Inc., a developer of a portable biometric identity and transaction card capable of storing a wide variety of personal information while protecting you against identity theft and fraud, announced today that it has entered into a postponement stipulation with Visa and MasterCard regarding its allegations of patent infringements by the two giants of SmartMetric technologies. The stipulation was filed with the United States District Court that extends the report filing deadline from November 10, 2010 to November 30, 2010. Confirmation of ongoing settlement discussions with at least one of the defendants is acknowledged in the recorded documentation. No assurance of settlement terms being reached are either implied or stated at this point.
On September 16, 2010, U.S. District Court Judge, Jacqueline H. Nguyen, denied a joint-motion put forth by the credit card issuers to dismiss the second-amended complaint filed on August 12, 2010.
While no terms have been reached, shares of SmartMetric (SMME) have been firmly on the rise for the last six weeks; surging forward from a dime to 80 cents as of noon today.
More information on the filings can be researched through 8-K filings of SmartMetric with the Security and Exchange Commission. Links are as follows:
http://sec.gov/Archives/edgar/data/1301991/000101376210002657/form8k.htm
http://sec.gov/Archives/edgar/data/1301991/000101376210002657/ex991.pdf
More information on SmartMetric and its technologies can be found on the Company’s website at www.smartmetric.com.
Legal Notice / Disclaimer
This document is not and should not be construed as an offer to sell or the solicitation of an offer to purchase or subscribe for any investment. Andrew Klips (“the author”) has based this document on information obtained from sources he believes to be reliable, but which has not been independently verified; the author makes no guarantee, representation or warranty and accepts no responsibility or liability as to its accuracy or completeness. Expressions of opinion are those of the author only and are subject to change without notice. The author assumes no warranty, liability or guarantee for the current relevance, correctness or completeness of any information provided within this Report and will not be held liable for the consequence of reliance upon any opinion or statement contained herein or any omission. Furthermore, the author assumes no liability for any direct or indirect loss or damage or, in particular, for lost profit, which you may incur as a result of the use and existence of the information provided within this Report.
The author does not own shares of SmartMetric, Inc.
No comments:
Post a Comment