Card Activation Technologies (OTC Bulletin Board: CDVT) today said it has filed lawsuits against four large national retailers and one national restaurant chain.
The lawsuits were filed in the U.S. Federal District Court in Chicago on January 21, 2009 against Casual Male Retail Group Inc. (Nasdaq: CMRG), BeBe Stores Inc. (Nasdaq: BEBE), Whole Food Markets Inc. (Nasdaq: WFMI), Barneys of New York, Inc. and Panda Restaurant Group. Card Activation Technologies seeks a royalty from these companies on the activation and processing of debit styled cards, which include gift cards, plus an injunction to halt further use of gift cards pending the companies' obtaining a license from Card Activation Technologies.
These lawsuits bring the total to 12 filed by the company in the past two years. Card Activation Technologies has settled most of the previous lawsuits. Lawsuits are still pending in U.S. Federal District Court in Chicago against Barnes & Noble and Aeropostale, Inc. In addition, over 600 letters have been sent to other companies advising them of the patent.