MGT Capital Investments, Inc. (NYSE-MKT: MGT.BC), announced today that it has retained Nixon & Vanderhye P.C., a nationally ranked IP litigation law firm, to support the Company’s strategy to monetize intellectual property. Specifically, Nixon & Vanderhye will direct the process of enforcing the Company’s ownership rights derived from its U.S. Patent entitled “Gaming Device Having a Second Separate Bonusing Event.” This invention relates to gaming systems linked to an interactive sign, and includes all filed continuation patents. The United States Patent and Trademark Office issued this patent on February 22, 2011; the corresponding patent application was filed on October 18, 2001.
Robert Rowan, a senior patent litigator and past Director of Nixon & Vanderhye stated, “With more than 35 years of experience in intellectual property litigation, I am very excited to work with MGT on this matter. Based on my professional experience in hundreds of complex intellectual property and business litigations, I am optimistic of successfully and expeditiously enforcing MGT’s patent rights in its linked interactive screen enhancement to the slot machine gaming experience.”
Robert Ladd, the Company’s President and Chief Executive Officer added, “We are extremely pleased that Nixon & Vanderhye has agreed to work with us to pursue all potential infringement claims for the benefit of our shareholders. In particular, we are very fortunate to have Bob Rowan represent the Company, given his particular expertise and success in the gaming industry.”
MGT also announced that it has closed on its previously announced transactions resulting in the sale of $3.5 million of Senior Secured Convertible Notes (and associated warrants), and the purchase of U.S. Patent #7,892,088.About MGT Capital Investments, Inc. MGT and its subsidiaries are engaged in the business of monetizing intellectual property. The Company’s majority-owned subsidiary, Medicsight, Ltd is a medical technology company with operations in imaging software and hardware devices, including computer-aided detection software used to assist radiologists with detection of colorectal polyps. The company's software has regulatory approvals including CE Mark and U. S. FDA clearance.
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