Marathon Patent Group, Inc.'s Subsidiary, Orthophoenix LLC Receives Favorable Markman Ruling
LOS ANGELES, CA -- (Marketwired) -- 02/03/16 -- Marathon Patent Group, Inc. (NASDAQ: MARA) ("Marathon" or the "Company"), a patent licensing company, announced today that on February 2, 2015, the United States District Court for the District of Delaware issued the claim construction order in the litigation involving its wholly-owned subsidiary Orthophoenix LLC, in its case against Dfine Inc., Wright Medical Technology Inc., and Stryker Corporation.
In his opinion, Chief Judge Leonard P. Stark, addressed disputed claim terms for U.S. Patent numbers 6,440,138 ("the '138 patent"), 6,863,672 ("the '672 patent") 6,663,647 ("the '647 patent") 6,248,110 ('the '110 patent"), 6,981,981 ("the '981 patent"), and 7,044,954 ("the '954 patent"). For all but one of the disputed claim terms, the court issued a favorable claim construction adopting the constructions (or minor variations thereof) proposed by Orthophoenix. The Court rejected defendants' arguments that the claims were invalid for indefiniteness, and rejected defendants' attempts to import limitations into the claims in order to avoid infringement.
Doug Croxall, Chief Executive Officer of Marathon, stated, "The Markman order is very encouraging, especially considering that almost all disputed terms were construed in our favor. We were gratified that the Court construed the claims to give them their full scope, and upheld the claims against defendants' invalidity arguments. It's rulings like this that generally have the potential to motivate possible resolution in the form of a reasonable licensing agreement. Absent such, we will confidently continue to work towards trial."
Russ, August & Kabat is representing Orthophoenix. 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 claim construction described in this press release does not result in revenue for the Company, does not assure success in the pending litigation nor is it binding on an appelate court. 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, Inc.
Source: Marathon Patent Group
Released February 3, 2016