WEST CHESTER, Pa., April 23, 2007– On Friday, April 20, Judge John C. Lifland of the United States District Court of New Jersey issued a ruling in the long-standing litigation between Mars, Incorporated and Coinco (Coin Acceptors, Inc.) He awarded Mars over $13 million for Coinco’s infringement of MEI’s coin recognition patents.
When the case was filed 14 years ago, MEI was part of Mars, Inc., but MEI is now privately owned. When Mars sold MEI in June of 2006, all currency recognition related patents were assigned to MEI. The award does not yet include interest, which is expected to be added by the court in a subsequent ruling.
“MEI invests significant resources in developing and marketing advanced payment technology globally for many industries,” said Jeff Jordan, MEI executive vice president. “For that reason we do whatever is necessary to protect our intellectual property against unlawful infringement. We are pleased with the court’s decision to uphold that property.”
MEI, headquartered in West Chester, Pa., holds the world’s largest installed base of unattended payment systems, handling in excess of two billion transactions per week in over 90 countries. The company developed the first electronic coin mechanism in the 1960s, followed by the first electronic non-contact bill validator, and more recently its credit card capability and vending management solution. Its products are in widespread use in the vending, bottling, 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.