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TJX facing lawsuit over gift cards

Date: 11/14/2007 3:38:00 PM

TJX Cos. Inc. is being sued by Chicagobased Card Activation Technologies, it was announced Wednesday.

CAT filed the suit against the Framingham, Mass.based retailer, claiming it owes the company royalties from its activation and processing of gift cards.

Card Activation Technologies owns patented payment transaction technology used for processing gift cards, phone cards and other debit purchase transactions, and claims many retailers, including TJX Cos., that use the debit cards infringe on its patent. CAT is seeking a percentage of the amount of money transacted through using the patent technology, which is used to activate stored value on gift and other cards.

TJX Companies (NYSE: TJX) reported $17.4 billion in sales for fiscal 2007, which ended Jan. 27, 2007, according to SEC filings. U.S. stores produced 78 percent of those sales. While there is no breakout of sales attributed to gift cards, it is believed the total could be significant, according to a CAT news release.

CAT (OTCBB: CDVT) also has an injunction to halt further use of gift cards pending TJX obtaining a license agreement from Card Activation Technologies.

The lawsuit was filed in the U.S. Federal Court in Chicago on Nov. 6, 2007.

Because the lawsuit is pending, a TJX Cos. spokeswoman said the company could not comment.

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Source: http://www.bizjournals.com/boston/stories/2007/11/12/daily26.html?jst=b_ln_hl


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