Marathon Patent Group Subsidiary Signal IP, Inc. Receives Favorable Order Denying Motion to Stay Filed by Ford Motor Company and Fiat Chrysler Automobiles USShare this:
Defendant's Motion to Stay All Proceedings Pending Reexamination and Inter Partes Review Denied
LOS ANGELES, CA -- (Marketwired) -- 10/01/15 -- Marathon Patent Group, Inc. (NASDAQ: MARA) ("Marathon"), a patent licensing company, announced that on September 30, 2015, the company's subsidiary Signal IP, Inc., received an order in The District Court of the Eastern District of Michigan ("EDMI") denying defendants Ford Motor Company's ("Ford") and Fiat Chrysler Automobiles US LLC's ("FCA") joint motion to stay all proceedings pending reexamination and Inter Partes Reviews.
Approximately a year ago, the cases against Ford and FCA were transferred from The Central District of California ("CDCA") to EDMI following the grant of an unopposed motion to transfer filed by the two defendants.
The present denial of the defendant's motion to stay by Judge Mark A. Goldsmith of the EDMI follows the denial of the motion to stay by Judge John A. Kronstadt in the CDCA on May 26th, 2015. Trials for the eight cases currently progressing in the CDCA are expected to commence on March 15th, 2016.
Doug Croxall, CEO of Marathon stated, "We are pleased with the order denying defendants Ford Motor Company's and FCA US LLC's joint motion to stay all proceedings pending reexamination and Inter Partes Reviews in the District Court of the Eastern District of Michigan. We look forward to receiving the courts scheduling order and proceeding to trial, much like we are with the remaining eight defendants in the CDCA. The first trial commences March 15, 2016, followed by one every 60 days thereafter, with defendants subject to being advanced on the calendar if an action against one defendant is resolved."
About Marathon Patent Group
Marathon is a patent acquisition and monetization 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. 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 October 1, 2015Share this: