LAS VEGAS, Jan. 26, 2015 /CNW/ -- The Talisman Group ("Talisman"), creator of the EZ Baccarat game, has announced its intent to proceed with a federal lawsuit against DEQ Systems Corp. (DEQ.V) ("DEQ") relating to DEQ's breach of a strategic alliance agreement. Talisman filed the lawsuit in November 2013.
In the lawsuit, Talisman alleged, among other things, that DEQ breached the parties' agreement by refusing to return ownership of the "ezbaccarat.com" domain name to Talisman. The arbitration panel found in favor of Talisman. It also alleged that DEQ failed to honor Talisman's right to buy out rights in the Panda 8 patent after a "change in management" at DEQ. The arbitration panel held that resignation of DEQ's long-time CEO Earl Hall did not constitute a "change in management" under the parties' agreement.
In a press release issued on January 23, 2015, DEQ publicly disclosed the lawsuit for the first time offering no explanation for not disclosing the suit in November 2013. In the press release, DEQ said it would file a countersuit against Talisman claiming for the first time that Talisman allegedly breached the agreement. Talisman will vigorously oppose any effort by DEQ to assert a new claim that it failed to raise in the arbitration.
This is the second lawsuit that Talisman has filed against DEQ based on its breach of the parties' agreement. Talisman filed the first action in 2009 over ownership of the EZ Baccarat trademarks after DEQ registered Talisman's EZ Baccarat trademarks in DEQ's name. The suit quickly settled and Talisman's rights in the trademarks have been established.
ABOUT EZ BACCARAT®
EZ Baccarat® is the world's most popular baccarat game created by Robin Powell and Francisco "TJ" Tejeda of Talisman Group. EZ Baccarat is a revolutionary method of accelerating the speed of baccarat by eliminating the commission. The EZ Baccarat method bars a three-card total of seven and is trademarked as the "Dragon 7™". Players can also make optional side wagers called Dragon 7 and Panda 8. The Dragon 7 is when the Banker wins with a total of seven consisting of three cards and pays 40 to 1. The Panda 8 is when the Player wins with a total of eight consisting of three cards and pays 25 to 1.
SOURCE Talisman Group
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