West Chester, PA January 7, 2009
A Las Vegas, Nevada jury reached verdicts in two cases filed by JCM American Corp. against MEI®. The jury determined that one of the patents was invalid and that MEI had infringed the second JCM patent, though it did not do so willfully.
“MEI is confident we do not infringe,” said Tom Shuren, chief technology officer,” and we do not agree with the judgment. We are currently evaluating all legal options including an appeal.”
The issue pertains to the pusher assembly within the CASHFLOW® SC cashbox. The decision will require a slight modification – two rivets will replace two screws.
“There will be no impact on supply of product to our customers,” said Mr. Shuren. “The resulting alteration will not, in any way, affect product performance. And, as part of the decision, our CASHFLOW SC installed base is not impacted as there is no need to make changes to products already in the market.”
The CASHFLOW SC bill validator has redefined industry expectations for acceptance, security and jam rate. Its popularity has been driven by tangible benefits received by players and equipment operators – resulting in our number one position in the US market ship share over the past year and unprecedented growth in Europe.
“This decision, while disappointing, will not change our strong financial status or the ability to continue our growth through products and services that set the industry standard,” said Mike Hayes, president and CEO. “MEI will continue to innovate and supply products that redefine the benefits associated with currency validation. If anything, the decision will strengthen our resolve to continue our success globally.”
Today, MEI systems are relied upon for more than 2 billion transactions per week in over 100 countries. The company developed the first electronic coin mechanism in the 1960s followed by the first electronic non-contact bill acceptor, and more recently the vending management system. Today MEI has the largest worldwide installed base of unattended payment mechanisms. In 2007, MEI reached a milestone of selling more than four million bill acceptors and five million coin mechanisms worldwide. Its products are in widespread use in the vending, soft drink, gaming, amusement, transportation, retail, and kiosk markets. For more information on MEI and its products, visit www.meigroup.com or call 1-800-345-8215 in US (please refer to our website for various international telephone numbers).