Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Identix (IDNX) -- Ignore unavailable to you. Want to Upgrade?

To: steve who wrote (25709)	3/29/2004 9:17:25 PM
From: steve	Read Replies (1) \| Respond to of 26039

Pay By Touch Loses Motion to Dismiss in $20 Million Patent Infringement Lawsuit SAN FRANCISCO, March 29 /PRNewswire/ -- Pay By Touch (or PayByTouch, formerly Solidus and Indivos) of San Francisco, CA has lost its major motion to dismiss in the $20 Million patent infringement lawsuit filed against Pay By Touch by plaintiff Excel Innovations, Inc. of San Jose, CA. The lawsuit, pending in San Francisco Federal Court, Northern District of California and expected to reach trial in late 2004 or early 2005, cites Pay By Touch for infringing 18 United States Patents and seeks damages in excess of $20 Million. Excel further cites Pay By Touch for willful infringement, exposing Pay By Touch to liability for treble damages of more than $60 Million. The lawsuit is being closely watched by the financial and retail industries, as consumers have shown growing interest in the "tokenless biometric payment system" at issue in the case. Additionally, the lawsuit provides public notice to retailers and distributors that participating with Pay By Touch exposes these companies to significant financial liability for contributory infringement. The patents cover financial transactions by which customers can pay for products and services using only their biometric, such as a fingerprint or voiceprint, to authorize a purchase or financial exchange, without the need for a token, such as a smart card or magnetic stripe card. Tokenless biometric payments have gained appeal with national retailers and the financial industry, benefiting from diminished smart card usage, increased adoption of biometrics, and the retail industry's search for new ways to migrate consumers from cash and checks to lower-cost, more secure electronic payment methods. More information on this lawsuit is available to the public online at ecf.cand.uscourts.gov, reference Civil Case Number 03-3125, Federal Court, California Northern District, San Francisco. prnewswire.com steve