Unwired Planet Charges Square, Inc. With Infringing Three Mobile Payment
RENO, Nev. -- October 21, 2013
Unwired Planet, Inc.(NASDAQ: UPIP), through itsNevada-based
subsidiary,Unwired Planet LLC, today announced it has filed a patent
infringement complaint against Square, Inc. in theU.S. District Court for the
District of Nevada.
The suit was filed byUnwired Planetto protect the Cloud & Services portion
of its intellectual property (IP) licensing business. In the complaint filed
inReno, Nevada,Unwired Planetcharges Square with infringing three of its
patents related to location-based services and mobile payments.
"Square generates substantial revenues from mobile payment technology that
relies on the intellectual property thatUnwired Planet developed and patented
many years ago. We are seeking reasonable compensation for continued use of
this technology. While our first choice is to reach a licensing arrangement
without litigation, we have determined that enforcement is necessary in this
instance," said Phil Vachon, chairman of Unwired Planet.
Unwired Planet has partnered with Morgan Lewis under an alternative fee
arrangement. The arrangement involves a combination of fixed and success
payments which begin the first quarter of the company’s fiscal year 2015.
The patents asserted against Square in this matter are:
1. United States Patent No. 7,711,100, entitled "System and Method for
Controlling Financial Transactions Over a Wireless Network," asserted against
Square Wallet. This patent generally relates to location-based, financial
transactions made by wireless devices.
2. United States Patent No. 7,376,433, entitled "Subscriber Delivered
Location-Based Services," asserted against Square Wallet. This patent
generally relates to location-based merchant selection and transactions made
by wireless devices.
3. United States Patent No. 8,275,359, entitled "Wireless User Based
Notification System," asserted against Square Wallet and Square Register. This
patent generally relates to location-based mobile device notifications.
About Unwired Planet
Unwired Planet, Inc.(NASDAQ: UPIP) is the inventor of the Mobile Internet and
a premier intellectual property company focused exclusively on the mobile
industry. The Company's patent portfolio of more than 2,400 issued US and
foreign patents, includes the technologies that allow mobile devices to
connect to the Internet and enable mobile communications. The portfolio spans
2G, 3G and 4G technologies, as well as cloud-based mobile applications and
services.Unwired Planet'sportfolio includes patents related to key mobile
technologies, including baseband mobile communications, mobile browsers,
mobile advertising, push technology, maps and location based services, mobile
application stores, social networking, mobile gaming and mobile
search.Unwired Planetis headquartered in Reno, Nevada
Cautionary Language Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934, including statements regarding Unwired Planet's
expectations regarding its plans and strategic direction. All statements other
than statements of historical fact contained in this press release are
forward-looking statements. In some cases, you can identify forward-looking
statements by terminology such as "may," "will," "should," "expects," "plans,"
"anticipates," "believes," "estimates," "predicts," "potential" or "continue"
or the negative of these terms or other comparable terminology. These
statements are only current predictions and are subject to known and unknown
risks, uncertainties and other factors that may cause Unwired Planet's actual
results, levels of activity, performance or achievements to be materially
different from those anticipated by the forward-looking statements. These
forward-looking statements are subject to a number of risks, including the
ability ofUnwired Planetto realize anticipated results of its plan and
strategy, the ability ofUnwired Planetto implement and execute its plan and
strategy, and to be successful in any related litigation as well as those risk
factors discussed in filings with theU.S. Securities and Exchange
Commission("SEC"), including but not limited to the Company's Annual Report
on Form 10-K filed onSeptember 9, 2013, and any subsequently filed reports on
Forms 10-Q and 8-K. Unwired Planetundertakes no duty to update or revise any
of the forward-looking statements, whether as a result of new information,
future events or otherwise, after the date of this press release.
The Blueshirt Group
Mike Bishop, 415-217-4968
Press spacebar to pause and continue. Press esc to stop.