CORRECTION - Marathon Patent Group Announces Results of Signal IP Markman Ruling
LOS ANGELES, CA -- (Marketwired) -- 04/20/15 -- In the news release issued issued earlier today by Marathon Patent Group, Inc. (NASDAQ: MARA), please be advised that the headline should read "Marathon Patent Group Announces Results of Signal IP Markman Ruling" rather than "Marathon Patent Group's Announces Results of Signal IP Markman Ruling" as originally issued. Complete corrected text follows.
Marathon Patent Group Announces Results of Signal IP Markman Ruling
LOS ANGELES, CA -- April 20, 2015 -- Marathon Patent Group, Inc. (NASDAQ: MARA) ("Marathon"), a patent licensing company, announced today that on April 17, 2015, the United States District Court Central District of California ("CDCAL") issued the claim construction order in the litigation involving its wholly-owned subsidiary Signal IP and American Honda Motor Co., Inc., Nissan North America Inc., Porsche Cars of North America Inc., Mazda Motor of America, Inc., Mercedes-Benz USA, LLC., BMW of North America LLC., Subaru of America, Inc., Kia Motors America, Inc., Mitsubishi Motors North America, Inc., Volkswagen Group of America, Inc., and Jaguar Land Rover North America LLC.
A total of 36 claim terms from a total of seven patents were disputed between Signal IP and the defendants.
Doug Croxall, Founder & Chief Executive Officer of Marathon stated, "Overall, we're quite pleased with the Court's ruling. On a whole, we believe 30 of 36 claim terms were construed in a manner which we deem acceptable. Ryan Hatch and his team at Liner were exceptional handling this complex case as evidenced by the remaining five patents that will be asserted against the 11 remaining defendants in the CDCAL cases. As a result of the Markman ruling, Signal IP will continue to assert either 3 or 4 patents against ten of the eleven defendants remaining in the CDCAL litigation."
Croxall continued, "As anticipated and as often occurs in these matters, the Markman ruling slightly reduced the number of both patents and claims being asserted in this matter, however we believe the net effect is that the ruling has strengthened the remaining patents and claims and served to limit several previous uncertainties associated with the litigation process."
The complete Markman Order may be found at the company's website.
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 April 20, 2015