Market Overview

Document Security Systems Suing for Approximately $240-300M; Hearing Moved Up ~2 Months


Document Security Systems (NYSE: DSS) announced today that its hearing in connection with the company's pending litigation matter involving has been moved up from October 9th, 2012 to August 16th, 2012. After the recent press release, Benzinga reached out to a corporate spokesperson for Document Security Systems who clarified that the lawsuit for involves $40-45M per year retroactive to 2006, or approximately $240-300M in total. The current market capitalization of Document Security Systems is $80.7M.

In October 2011, Document Security Systems filed a lawsuit against alleging that "misappropriated" Document Security Systems' trade secrets and "breached confidentiality agreements." The suit involves Document Security Systems' proprietary digital copy protection technology. In the lawsuit, Document Security Systems contends that this technology has been utilized by on billions of internet-generated coupons since 2006.

On April 17, 2012, CEO Patrick White stated, "It is our contention that has utilized a copy protection technology which DSS provided to them for review under a strict non-disclosure agreement. Our research indicates that has printed this particular technology on billions of internet generated coupons since 2006."

July 13, 2012
4:05pm ET

Posted-In: Coupons.comNews Legal


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