ATTM predictably responded to the filing of the class complaint with a motion to compel arbitration under the terms of its arbitration clause.
The claimants in Concepcion contended that the bonus provision in the ATTM arbitration clause is "illusory," because "ATTM will simply pay its customers' demand in full rather than incur costs of arbitration .
In short, Concepcion asks whether the ATTM arbitration clause is unconscionable not because it exculpates but, instead, because it disables an individual claimant from seeking to represent the universe of other, similarly situated persons.
The lower courts in Concepcion effectively sought to treat the case as one under the caveat of FAA [section] 2, even in the face of their own recognition that the ATTM arbitration clause does not exculpate but, instead, simply bars the claimant at hand from seeking to represent the universe of similarly situated persons.
Xethos Group's Chief Executive Officer, Colin Gervaise-Brazier, commented, "ACE will provide in-country support for European ATTM customers and will work closely with WINS' central functions in the USA.
ATTM technology is licensed from World Innovation Netcomm Services (WINS) and Xethos has an exclusive license for the technology in Europe, as well as a worldwide license for e-commerce applications.
The ATTM Card operates as a universal credit, debit and phone card.
In addition, the ATTM card provides users with a secured method to purchase merchandise and services through the Internet.
GS Telecom, Limited will begin immediately marketing the ATTM Card to e-commerce companies and expects to make the card available to individuals in January.
The ATTM Universal Card technology can be used to create a preloaded hybrid "Smart-Card," that may enable transactions in 53 currencies, throughout the world, including the Pacific Rim and the Former Soviet Union.
Initial negotiations for this acquisition focused on only the licensing and marketing rights (of the ATTM Universal Card.
We look forward to developing these alliances, and to forming new strategic partnerships to enhance and deliver ATTM technology- based products to a global market.