SmartMetric Wins in Its Case With MasterCard Over Legal Fees Stemming From the SmartMetric Patent Infringement Case It Brought Against Mastercard
SmartMetric, Inc. (OTCQB: SMME) SmartMetric is pleased to announce to shareholders and the public that the United States Court of Appeals for the Federal Circuit has denied the Mastercard appeal where Mastercard appealed the ruling of the Federal Circuit Courts decision against Mastercard's motion for legal fees of more than $1.5 million against SmartMetric.
Todays ruling, that has just been handed down by the US Court of Appeals, is the end of more than 2 1/2 years of legal argument that could have seen SmartMetric severely damaged by the quest of Mastercard to levy an enormous legal cost charge against SmartMetric said SmartMetric's President & CEO, Chaya Hendrick.
We are delighted and grateful to the Court with today's ruling and it comes as a tremendous relief to everyone involved with our company. SmartMetric has been investing all of its time and resources into research and development to create an amazing new biometric payments card and we are now free to move forward without this black cloud of impending debt over our head. We are now presenting our safer biometric card solution to Banks around the world, said SmartMetric's President.
About SmartMetric: SmartMetric has created a safer and better user validation and identification technology for payment and identity cards using a person's individual and unique biometrics to validate and identify the card user. The company has created a super miniature fully functional powerful fingerprint scanner that fits inside a payments card as well as identity and secure log on cards. Using an internal Cortex processor built in the card the SmartMetric biometric card scans, reads and matches a person's fingerprint in less than 0.25 seconds. The card's internal scanner is powered by a rechargeable battery developed by SmartMetric and also embedded inside the payments and identity card. SmartMetric is a publicly traded fully reporting company on the United States OTCQB exchange.
To view a video of the SmartMetric biometric chip card follow this link:
SmartMetric Biometric Payments Card -- https://youtu.be/zSX59uHoHqU
To view the company website: www.smartmetric.com
Safe Harbor Statement: Certain of the above statements contained in this press release are forward-looking statements that involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those indicated in the forward-looking statements as a result of various factors.