201501231630PR_NEWS_USPR_____MO15046 20150123T163000-0500 prnewswire.com 20150123 MO15046 1 urn:newsml:prnewswire.com:20150123:MO15046:1 20150123T163000-0500 20150123T163000-0500 MimeType/@FormalName DEQ and Talisman Group in litigation LEVIS, QC, Jan. 23, 2015 DEQ-TalismanLitigatio 201501231630PR_NEWS_USPR_____MO15046.xml DEQ and Talisman Group in litigation

DEQ and Talisman Group in litigation

PR Newswire

LEVIS, QC, Jan. 23, 2015 /PRNewswire/ - DEQ Systems Corp (TSX-V: DEQ) ("DEQ") announced today that The Talisman Group ("Talisman") is moving forward with a Federal Court litigation against DEQ with respect to an alleged breach of the parties' strategic alliance agreement relating to EZ Baccarat.

The parties have been engaged in non-binding arbitration since 2014 as a result of a complaint filed by Talisman. Talisman claimed that a change of management occurred and triggered DEQ's obligation to offer the Panda 8 patent to Talisman for fair market value.

The non-binding arbitration panel's ruling denied Talisman's claim. Despite this setback, on January 21, 2015, Talisman filed a motion to schedule a conference to proceed to trial in U.S. Federal Court.

DEQ will file a countersuit against Talisman for breach of their obligation of good faith and fair dealing under the Agreement. DEQ will seek any and all damages allowable.

DEQ believes that the lawsuit and related claims were and still are frivolous, immaterial and without merit. Regardless of the outcome, DEQ does not anticipate any consequential effect or disruption of its existing recurring revenue stream, infrastructure, support and customer base associated with the EZ Baccarat product.

DEQ | Overview
DEQ Systems Corp. (TSXV: DEQ) is a customer-centric Company delivering solutions to the global gaming industry with best-of-breed table-game technology related products which add value and increase client revenue. DEQ provides table game bonusing technology, table games, baccarat results tracking, and progressive jackpot connectivity solutions to more than 300 casinos in 30 countries around the world. DEQ also has an extensive patent portfolio of more than 20 patents recognized in 50 countries.  For further information, please visit www.deq.com

TSX Venture does not accept any responsibility regarding the accuracy of the information contained in this press release.

Forward-looking statements contained in this Press Release involve known and unknown risks, uncertainties and other factors that may cause actual results, performance and achievements of the Company to be materially different from any future results,
performance or achievements expressed or implied by the said forward-looking statements.

 

SOURCE DEQ SYSTEMS CORP.