Navigation Links
BIO-key to Respond in Court to a Lawsuit Filed by Two Investors
Date:3/20/2009

WALL, N.J., March 4 /PRNewswire-FirstCall/ -- BIO-key International, Inc. (OTC Bulletin Board: BKYI), a leader in wireless public safety and finger-based biometric identification solutions, today announced that on or before March 16, 2009 it will file, in the United States District Court for the Southern District of New York, its response to litigation recently initiated by two of the Company's investors, Longview Special Finance, Inc. and Longview Fund, L.P. In their complaint, those investors have alleged that the Company improperly failed to redeem outstanding shares of the Company's Series B Convertible Preferred Stock and Series C Convertible Preferred Stock currently held by the investors in accordance with the terms and conditions of such preferred stock. The Company does not believe that it is in breach of any redemption obligations to these investors and intends to defend itself against this claim vigorously. The Company also is evaluating potential counterclaims it may have in the lawsuit.

(Logo: http://www.newscom.com/cgi-bin/prnh/20050509/BIOKEYLOGO)

About BIO-key

BIO-key International, Inc., headquartered in Wall, New Jersey, develops and delivers advanced identification solutions and information services to law enforcement departments, public safety agencies, government and private sector customers. BIO-key's mobile wireless technology provides first responders with critical, reliable, real-time data and images from local, state and national databases. BIO-key's high performance, scalable, cost-effective and easy-to-deploy biometric finger identification technology accurately identifies and authenticates users of wireless and enterprise data to improve security, convenience and privacy and to reduce identity theft. Over 1,000 police departments in North America use BIO-key solutions, making BIO-key the leading supplier of mobile and wireless solutions for law enforcement. (http://www.bio-key.com)

BIO-key Safe Harbor Statement

Certain statements contained in this press release may be construed as "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 (the "Act"). The words "estimate," "project," "intends," "expects," "anticipates," "believes" and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbor" provisions of the Act. These statements are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of these statements. These risks and uncertainties include, without limitation, our history of losses and limited revenue, our ability to develop new products and evolve existing ones, the impact on our business of the recent financial crisis in the global capital markets and negative global economic trends, and our ability to attract and retain key personnel. For a more complete description of these and other risk factors that may affect the future performance of BIO-key International, Inc., see "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2008 and its other filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. The Company also undertakes no obligation to disclose any revision to these forward-looking statements to reflect events or circumstances after the date made or to reflect the occurrence of unanticipated events.

    Company Contact: BIO-key International, Inc.
                     Michael DePasquale
                     732-359-1110


'/>"/>
SOURCE BIO-key International, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related biology news :

1. BIO-key Reports Second Quarter 2007 Results
2. BIO-key(R) Announces Contracts for New Criminal Justice Data Sharing Solution
3. BIO-key(R) International to Showcase Deployed Biometric Security Applications at 2007 Biometric Technology Expo
4. Radiant Systems Selects BIO-key(R) Biometric Software for POS Solution
5. Radiant Systems Selects BIO-key(R) Biometric Software for POS Solution
6. BIO-key(R) International to Showcase Deployed Biometric Security Applications at 2007 Biometric Technology Expo
7. Youngstown, Ohio Police Award Mobile Data Contract to BIO-key(R) International
8. BIO-key International Showcasing Innovative Public Safety Solutions at 2007 IACP Conference
9. ACT Ensures Integrity of Testing Process Through Deployment of BIO-keys(R) Biometric ID Technology
10. Easton, PA Police Officers Armed With BIO-key(R) Mobile Data Solution Access Information Anytime, Anywhere
11. BIO-key Reports Third Quarter 2007 Results
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/16/2017)... TEANECK, N.J. , May 16, 2017  Veratad ... leading provider of online age and identity verification solutions, ... the K(NO)W Identity Conference 2017, May 15 thru May ... Ronald Regan Building and International Trade Center. ... across the globe and in today,s quickly evolving digital ...
(Date:4/18/2017)... , April 18, 2017  Socionext Inc., a global expert in ... media edge server, the M820, which features the company,s hybrid codec ... provided by Tera Probe, Inc., will be showcased during the upcoming ... NAB show at the Las Vegas Convention ... Click ...
(Date:4/11/2017)... Apr. 11, 2017 Research and Markets has ... report to their offering. ... The global eye tracking market to grow at a CAGR of ... Eye Tracking Market 2017-2021, has been prepared based on an in-depth ... market landscape and its growth prospects over the coming years. The ...
Breaking Biology News(10 mins):
(Date:6/23/2017)... ... June 23, 2017 , ... Ken Hanson, a medical ... Physik Instrumente USA, have been selected as this year’s recipients of two top awards ... have been invited along with other honorees to accept their awards at a banquet ...
(Date:6/22/2017)... ... 21, 2017 , ... RMC Pharmaceutical Solutions, Inc. announces the ... to manage the new site. , Tim has 25 years of pharmaceutical experience, ... role as the Director of Manufacturing and Supplier Quality Assessment. This group ...
(Date:6/22/2017)... ... 22, 2017 , ... For the months of May and ... Spotlight series on “Cell Therapy Regulation” for its regenerative medicine followship. ... unique regulatory challenges of stem cell medical research. , Stem cell clinical trials ...
(Date:6/22/2017)... ... 22, 2017 , ... Charm Sciences, Inc. is pleased to announce that its ... be appropriate as a screening test at dairies and farms for raw commingled cow ... the Charm EZ Lite system. These systems are a combination incubator and reader in ...
Breaking Biology Technology: