News

CoinBank and Coinstar continue legal battle

February 20, 2002

Los Angeles -- CoinBank Automated Systems is not done lashing back at Coinstar for patent infringement charges concerning coin-counting machines.

CoinBank contends that Coinstar's patents are unenforceable due to knowingly false statements Coinstar made to the U.S. Patent Office. According to CoinBank, Coinstar failed to disclose prior similar inventions, a violation of federal law.

On Jan. 26, 1998, in response to Coinstar's infringement lawsuit, the federal court in San Jose granted CoinBank's motion for summary judgment of non-infringement against Coinstar for all the machines CoinBank currently produces.

"Coinstar filed their initial action without ever having seen the mechanism which they claimed infringed their patent," said Bruce Korman, chairman and CEO of Cash Technologies, owner of CoinBank. "Given Coinstar's limited resources and continued quarterly losses, we are surprised that they would continue to pursue frivolous litigation that has thus far proved so ineffective."