SmartMetric Inc (SMME)

[groundhog_radio]

SmartMetric's $13.4 Billion Patent infringement law suit against Visa and MasterCard will be heard by the Federal Circuit Court on August 8th 2014
"SmartMetric is welcoming its case being heard in August and is looking forward to the panel of three Judges, who are all expert in patent law, examining the facts of the SmartMetric case against the payments card companies, Visa and MasterCard," said the President & CEO Chaya Hendrick. "SmartMetric is also seeking the Court to find that the defendants, Visa and MasterCard, be held liable to pay a royalty to SmartMetric of 25% of the economic benefit flowing from the use of the SmartMetric technology calculated on the value of fraud reduction from the use of the new EMV chip cards," she added. Earlier Court filings have put the patent infringement claim against Visa Inc and MasterCard International at $13.4 Billion.