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SOURCE Document Security Systems, Inc.
ROCHESTER, N.Y., Jan. 14, 2014 /PRNewswire/ -- Document Security Systems, Inc. (NYSE MKT: DSS), a leading developer and integrator of security technologies, today provided an update regarding recent decisions in the VirtualAgility and Bascom Research patent litigation cases.
On January 9, 2014, the US District Court for the Eastern District of Texas denied the defendants' motion to stay the VirtualAgility case. As a result, the VirtualAgility, Inc. v. Salesforce.com, Inc. Et Al case will continue as scheduled, with the Markman hearing date on April 2, 2014 and jury selection in November 2014.
On January 13, 2014, the US District Court for the Northern District of California issued a stay of proceedings for the Bascom Research case in light of Alice Corp. v. CLS Bank Int'l, a Supreme Court case covering the patentability of software. The Bascom Research stay decision falls in conjunction with stay decisions in several other cases unrelated to Bascom Research and Document Security Systems. The Supreme Court's ruling on Alice Corp. v. CLS Bank Int'l is anticipated in June 2014. As a result, the Bascom Research Markman hearing date is expected to be rescheduled after June 2014.
Jeff Ronaldi, CEO of DSS stated, "Document Security Systems, along with other owners of important software intellectual property, look forward to the results of the Alice Corp. v. CLS Bank case, which should help to clarify what subject matter is patentable under US Law."
The dates are tentative and subject to change.
Bascom Research is a wholly-owned subsidiary of DSS Technology Management. Bascom Research's patents focus on creating solutions for the management of complex and distributed data. In 2012, Bascom Research brought claims for patent infringement against a number of defendants, including Facebook, Inc. and LinkedIn Corp. The case is currently pending in the US District Court for the Northern District of California.
DSS is an investor in VirtualAgility, Inc., an enterprise software company. VirtualAgility provides a user-configurable platform that allows persons who are not specialists in information technology (IT) to create sophisticated, integrated applications. In 2013, VirtualAgility filed a patent infringement lawsuit against nine defendants. The lawsuit is currently pending in the US District Court for the Eastern District of Texas.
About DSS (Document Security Systems, Inc.)
Document Security Systems, Inc.'s (NYSE MKT: DSS) products and solutions are used by governments, corporations and financial institutions to defeat fraud and to protect brands and digital information from the expanding world-wide counterfeiting problem.
DSS continually invests in technology to meet the ever-changing security needs of its clients and implements these patented solutions through the Company's operating groups.
DSS Technology Management, Inc. ("DSS TM"), a wholly-owned subsidiary of Document Security Systems, Inc. ("DSS" or "Company"), provides strategy for DSS's IP portfolio, as well as legal expertise and investment capital for pioneering inventions.
DSS provides counterfeit deterrence and authentication technology coupled with licensing and IP monetization solutions. When implemented, DSS technologies help ensure the authenticity of both digital and physical financial instruments, identification documents, sensitive publications, brand packaging and websites.
For more information on the AuthentiGuard Suite, please visit www.AuthentiGuard.com.
For more information on DSS and its subsidiaries, please visit www.DSSsecure.com.
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Document Security Systems
Forward Looking Statements
Forward-looking statements that may be contained in this press release, including, without limitation, statements related to the Company's plans, strategies, objectives, expectations, potential value, intentions and adequacy of resources, are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act and contain words such as "believes", "anticipates", "expects", "plans", "intends" and similar words and phrases. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the results projected in any forward-looking statement. In addition to the factors specifically noted in the forward-looking statements, other important factors, risks and uncertainties that could result in those differences include, but are not limited to, those disclosed in the "Risk Factors" section of the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2013, filed with the Securities and Exchange Commission on November 13, 2013. Forward-looking statements that may be contained in this press release are being made as of the date of its release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements.
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