GOLDEN VALLEY, Minn., May 23 LAWFUEL – Press Release Service– Veritec, Inc.
(OTC: VRTC), the patent holder and leading designer and provider of
integrated uses and software for high data density Multi-Dimensional
barcode technology to the manufacturing and security industries, is pleased to announce today that Veritec’s wholly owned subsidiary, VCode Holdings, Inc., has joined as a Plaintiff with VData, LLC., the subsidiary of Acacia
Research Corporation (Nasdaq: ACTG), in patent infringement litigation
against:
The Allstate Corp. (NYSE: ALL); PNY Technologies, Inc.; Merchants’
Credit Guide Co.; American Heritage Life Insurance Co.; and, Aetna, Inc.
(NYSE: AET), (Collectively “Defendants”).
The case was filed in the United States District Court for the District of Minnesota as Civil File No.06-1701 JNE/SRN. The complaint alleges amongst other things, that: “Defendants manufacture, make, have made, use, sell, and/or offer for sale articles and/or services that infringe claims in the ‘524 patent and the ‘078 patent [ … ]. Specifically, Defendants are applying and using symbols taught by the claims in the ‘524 patent and the ‘078 patent on their respective articles.”
Veritec’s CEO, Ms. Van Tran, stated: “This most recent case is a part
of our continuing endeavor to insure our patented technology is protected.
Use of our symbology by those not holding a license cannot be tolerated.”
Ms. Tran went on to say: “Veritec, through its subsidiary VCode Holdings,
routinely issues licenses with the sale of our proprietary software
products. We are hopeful that those who are utilizing our symbology without proper licensing will step forward without the need for litigation. After all, the support we can provide to users is unparalleled in the industry,
not just in data storage and retrieval, but in the areas of automated
manufacturing control, imaging and biometric encoding and decoding as
well.”
About Veritec, Inc.
Veritec, Inc. manufactures and sells data matrix software and systems
under the VeriCode(R) and VSCode(R) Symbols and Trademarks. The company is engaged in developing, marketing, and selling encoding (writing) and
decoding (reading) software and system products that utilize its patented
technology. Veritec’s codes allow end-users to produce and interpret secure coded data for identification, verification and tracking purposes. The technology is applicable in nearly all environments that require security, tracking and identification of people, livestock, documents and products.
Veritec developed its 2D matrix symbology during the late 80’s, it was
later endorsed by NASA as the code of choice for its vendors. The 2-D code symbol is a small checkerboard-like matrix having the highest data capacity and density capabilities.
Safe Harbor Statement under the Private Securities Litigation Reform
Act of 1995:
Statements in this press release and in documents referenced herein
that are not statements of historical or current fact constitute
“forward-looking statements” within the meaning of the Private Securities
Litigation Reform Act of 1995. Such forward-looking statements involve
known and unknown risks, uncertainties and factors that could cause the
actual results of the Company to be materially different from the
historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly
describe such risks and uncertainties readers are urged to consider
statements using the terms “anticipates” “belief”, “believes”, “can”,
“intends”, “in the near future”, “plans”, “shall”, “will”, or “will be” and similar expressions to be uncertain and forward-looking. The
forward-looking statements contained herein are also subject generally to
other risks and uncertainties that are described from time to time in the
Company’s reports and registration statements filed with the Securities and
Exchange Commission.
Contact – Public relation: Joe Micelli
Telephone: (763) 253-2670
Facsimile: (763) 253-0503
