Marathon Patent Group Announces That the USPTO Has Denied Toyota Motor Corporation and Aisin Seiki Co. Ltd's Petitions for Inter Partes Review of Signal IP's Patents
LOS ANGELES, CA -- (Marketwired) -- 06/20/16 -- Marathon Patent Group, Inc. (NASDAQ: MARA) ("Marathon" or "Company"), a patent licensing and commercialization company, announced today that on June 9, 2016, the Patent Trial and Appeal Board ("PTAB") of the United States Patent and Trademark Office ("USPTO") issued rulings denying the IPR2016-00293 and IPR2016-00291 petitions filed by petitioner Toyota Motor Corporation ("Toyota") against U.S. Patent No. 5,714,927 ("927 Patent") and U.S. Patent No. 5,732,375 ("375 Patent"). The '927 and '375 patents are assigned to Signal IP, Inc. ("Signal"), a wholly-owned subsidiary of Marathon Patent Group. Additionally, on June 17, 2016, the PTAB also issued denied IPR2016-00369 petition filed by Aisin Seiki Co. Ltd. ("Aisin") against Signal's '375 Patent.
The '375 and '927 patents have been asserted against Toyota in the U.S. District Courts for the Central District of California ("CACD"), Case No. CACD-2-15-cv-05162 as well as the Eastern District of Michigan ("MIED"), Case No. MIED-2-14-cv-13864.
"We are pleased with the USPTO's decisions denying Toyota's IPR petitions," said Doug Croxall, CEO of Marathon Patent Group. "These rulings, along with those that have preceded it, 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 20, 2016