MyECheck Sues Zipmark for Patent Infringement
FOLSOM, Calif., Oct. 13, 2014 /PRNewswire/ — MyECheck, Inc. (OTC PK: MYEC), the leader in electronic checks solutions for internet and mobile payments, announced today that it has filed a lawsuit in US District Court against Zipmark, Inc., and Jay Bhattacharya, for Breach of Contract and Patent Infringement. The lawsuit seeks damages, plus preliminary and permanent injunctions.
The lawsuit alleges that Zipmark entered into a services agreement and subsequently a licensing agreement with MyECheck in 2012, but after custom software was delivered to Zipmark, Zipmark failed to pay the balance of the agreed upon licensing fee and ongoing transaction fees.
The lawsuit further alleges that Zipmark was given written notice terminating the license for failure to pay, and that Zipmark and Bhattacharya continue to operate using the patented technology, and the infringement is willful and deliberate, thereby MyECheck is requesting treble damages.
About MyECheck: MyECheck Inc. is a leading electronic payment technology developer and payment services provider. MyECheck operates under license to US Patent 7,389,913, “Method and Apparatus for Online Check Processing” granted June 2008. This patented payment method is the fastest, most secure and most cost effective method of processing payments in the US, and it works with the most people, businesses and entities. MyECheck provides comprehensive payment solutions for all payment applications including mobile payments and the industry’s most advanced security and fraud control technologies. MyECheck customers include corporations, retailers, governments, payment processors and financial institutions.
For more information contact:
Bill Delgado
Investor Relations
bill.delgado@myecheck.com
MyECheck, Inc.
2600 E. Bidwell Street #140
Folsom, CA 95630
844.693.2432
www.myecheck.com
Forward-looking statements in this release are made pursuant to “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of mentioned products, increased levels of competition, new products and technological changes, dependence upon third-party suppliers, intellectual property rights, and other risks detailed from time to time in reports filed with the SEC.
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