Marathon Patent Group's Wholly-Owned Subsidiary Munitech IP Files Patent Infringement Lawsuits against Google Inc., ZTE Deutschland GmbH, ZTE Services Deutschland, ZTE Corporation, Xiaomi Technology Co. LTD., Telecom Deutschland GmbH, Vodafone GmbH, and Telefonica Germany GmbH & Co. OHG
LOS ANGELES, CA -- (Marketwired) -- 02/13/17 -- Marathon Patent Group, Inc. (NASDAQ: MARA) ("Marathon" or "Company"), an IP licensing and commercialization company, announced today announced that its wholly-owned subsidiary Munitech IP filed patent infringement lawsuits against the following companies in the Regional Court of Dusseldorf in Germany.
- Google Inc.
- ZTE Deutschland GmbH
- ZTE Services Deutschland
- ZTE Corporation
- Xiaomi Technology Co. LTD.
- Telecom Deutschland GmbH
- Vodafone GmbH
- Telefonica Germany GmbH & Co. OHG
The patents being asserted are EP 1 326 470 (Method and device for authenticating a subscriber in a communications network), EP 1 326 469 (Method and device for checking the authenticity of a service provider in a communication network), EP 1 400 077 (Radio communications system and method for operating the same), and EP 1 125 463 (Method for adapting interruption phases required for adjacent channel monitoring).
"We are pleased to initiate the monetization of some of our recently acquired assets. These suits, along with those soon to follow, are expected to complement already ongoing soft license discussions," said Doug Croxall, CEO of Marathon Patent Group.
About Marathon Patent Group, Inc.
Marathon is an IP licensing and commercialization company. The Company acquires and manages IP rights from a variety of sources, including large and small corporations, universities and other IP owners. Marathon has a global focus on IP acquisition and management. 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.
Statements made in this press release include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, but not limited to, the amount and use of proceeds the Company expects to receive from the sale of the shares of common stock in the registered direct offering and the closing of the transactions. Forward-looking statements can be identified by the use of words such as "may," "will," "plan," "should," "expect," "anticipate," "estimate," "continue," or comparable terminology. Such forward-looking statements are inherently subject to certain risks, trends and uncertainties, many of which the Company cannot predict with accuracy and some of which the Company might not even anticipate, and involve factors that may cause actual results to differ materially from those projected or suggested. Readers are cautioned not to place undue reliance on these forward-looking statements and are advised to consider the factors listed above together with the additional factors under the heading "Risk Factors" in the Company's Annual Reports on Form 10-K, as may be supplemented or amended by the Company's Quarterly Reports on Form 10-Q. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events, new information or otherwise.
Marathon Patent Group
Source: Marathon Patent Group
Released February 13, 2017