ROSH PINA, Israel, June 20, 2013 (GLOBE NEWSWIRE) -- On Track Innovations Ltd. ("OTI") (Nasdaq:OTIV) announced that it received today the favorable decision on claim construction in the patent infringement lawsuit alleging that Near Field Communication (NFC) enabled phones sold by T-Mobile USA, Inc. infringe OTI's U.S. Patent No. 6,045,043 (the "'043 patent"). The Honorable Judge Alison J. Nathan's "adopt[ed] [OTI's] proposed constructions of all four disputed terms."
The lawsuit is pending in the United States District Court for the Southern District of New York and was filed in March, 2012. Today's decision followed two days of proceedings last month, including a technology tutorial followed by a claim construction argument before the Court. The Court considered the meaning of certain technical terminology used in the '043 patent. A copy of today's decision can be found here http://otiglobal.com/Press_Releases.
"Today's decision validates OTI's intellectual property and strongly supports our view that the '043 patent is fundamental to every NFC-enabled phone," said OTI's CEO, Ofer Tziperman. The '043 patent is part of OTI's extensive intellectual property portfolio, including over two dozen issued patents and pending patent applications in the US and numerous more around the world encompassing product applications, software platforms, system and product architecture, product concepts and more in the fields of NFC, contactless payments, secure ID, petroleum and parking solutions.
OTI is a pioneer in the contactless payment market and supported MasterCard® and Visa®, among others, in the creation and implementation of contactless transaction processing and payment solutions. OTI provides NFC devices and reader solutions including the COPNI (Contactless Payment and NFC Insert) device, which adds NFC capability to existing (non-NFC) mobile phones.
About OTI
On Track Innovations Ltd. ("OTI") is a leader in contactless and NFC applications based on its extensive patent and IP portfolio. OTI's field-proven innovations have been deployed around the world to address NFC payment solutions, national electronic ID systems, petroleum payment and management, cashless parking fee collection systems and mass transit ticketing. OTI markets and supports its solutions through a global network of regional offices and alliances. Visit the website: www.otiglobal.com.
Safe Harbor for Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Because such statements deal with future events and are based on OTI's current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of OTI could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained in this press release are subject to other risks and uncertainties, including those discussed in the "Risk Factors" section and elsewhere in OTI's annual report on Form 20-F for the year ended December 31, 2012 and in subsequent filings with the Securities and Exchange Commission. Except as otherwise required by law, OTI disclaims any intention or obligation to update or revise any forward-looking statements, which speak only as of the date hereof, whether as a result of new information, future events or circumstances or otherwise.