Marathon Patent Group Announces Rulings for Inter Partes Reviews of CRFD Research, Inc. '233 Patent
LOS ANGELES, CA -- (Marketwired) -- 06/07/16 -- Marathon Patent Group, Inc. (NASDAQ: MARA) ("Marathon" or "Company"), a patent licensing and commercialization company, announced today that on June 1, 2016, the Patent Trial and Appeal Board ("PTAB") of the United States Patent and Trademark Office ("USPTO") issued rulings pertaining to IPR2015-00259, filed by petitioners Hulu, LLC ("Hulu"), Netflix, Inc. ("Netflix"), and Spotify USA Inc. ("Spotify"), and IPR2015-00627, filed by Dish Network Corporation ("Dish") against U.S. Patent No. 7,191,233 ("'233 Patent"). The '233 patent is assigned to CRFD Research Inc., ("CRFD"), a wholly-owned subsidiary of Marathon Patent Group.
CRFD's patent infringement lawsuits in the United States District Court for the District of Delaware against Dish, Netflix, Hulu, and Spotify (together, "Petitioners") had been stayed pending the resolution of the aforementioned Inter Partes Review ("IPR") filings.
The Petitioners had challenged a total of 30 out of a possible 43 claims of the '233 patent. However, the PTAB only found 4 of the 30 claims to be unpatentable. After this result, and in light of the previous decision on the IPR filed by Iron Dome LLC (IPR2015-00055), ten of the 43 claims of the '233 patent have been held unpatentable by the PTAB. In other words, the PTAB has confirmed patentability of 20 out of the 30 claims of the '233 patent that have been challenged.
"We are pleased with the USPTO's decisions finding that the vast majority of the patent's 43 claims are patentable," said Doug Croxall, Founder and CEO of Marathon Patent Group. "Importantly, with the IPR rulings now issued, we expect the court will soon calendar trial dates advancing these previously long stayed cases to trial. Rulings such as these continue to demonstrate the value of our proprietary process to assess, value, and acquire high quality patent assets that have the potential of generating meaningful return on investment for both the Company and its shareholders."
About Marathon Patent Group
Marathon is a patent licensing and commercialization company. The Company acquires patents from a wide-range of patent holders from individual inventors to Fortune 500 companies. Marathon's strategy of acquiring patents that cover a wide-range of subject matter allows the Company to achieve diversity within its patent asset portfolio. Marathon generates revenue with its diversified portfolio through actively managed concurrent patent rights enforcement campaigns. This approach is expected to result in a long-term, diversified revenue stream. The Company's commercialization division is focused on the full commercialization lifecycle which includes discovering opportunities, performing due diligence, providing capital, managing development, protecting and developing IP, assisting in execution of the business plan, and realizing shareholder value. To learn more about Marathon Patent Group, visit www.marathonpg.com.
Safe Harbor Statement
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission (the "SEC"), not limited to Risk Factors relating to its patent business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.
Marathon Patent Group
Source: Marathon Patent Group
Released June 7, 2016