UPDATE: Four Printer Companies Accused of Patent Infringement by Marathon Patent Group, Inc.'s CyberFone Systems
ALEXANDRIA, VA -- (Marketwired) -- 02/27/14 -- Marathon Patent Group, Inc. (OTCQB: MARA) ("Marathon"), a patent licensing company, announced today that its subsidiary, CyberFone Systems, LLC ("CyberFone"), has filed four patent infringement lawsuits in the United States Eastern District Court of Texas against Lexmark, Konica Minolta, Ricoh and Xerox.
CyberFone is asserting infringements relating to U.S. Patent 6,044,382. The complaints allege that Defendants have infringed, and continue to infringe, the claims of the patents in suit by using the accused systems and methods covered by the claims of the asserted patent.
The patent portfolio covers a system where transaction entry devices, such as copiers and printers in the four current cases, utilize a simple form based operating system to communicate between the device and a remote server or computer. This component eliminates the need for an expensive and complex point of entry system.
Dr. Rocco Martino, inventor and President of CyberFone Systems, is today responsible for 42 patented inventions, many in the data processing and computer transaction fields. On behalf of Dr. Martino, Marathon's CyberFone Systems has executed over 40 settlement and license agreements protecting his patented inventions.
"Dr. Martino is incredibly valuable to all inventors and innovators," said Mr. Croxall. "It is important to recognize him, especially in light of the anti-patent troll rhetoric coming from the Executive and Legislative branches of our government."
Mishcon de Reya New York LLP has been retained as litigation counsel for CyberFone. The firm will collaborate with Dr. Martino to plan the next phase of enforcement for the portfolio.
"Dr. Martino's patents are strong and show remarkable foresight," said Mark Raskin, head of the patent litigation group at Mishcon de Reya New York LLP. "We are determined to help CyberFone take the appropriate steps in righting what has been wronged."
The present cases begin a new phase in defending Martino's inventions from unauthorized use. Cases have been filed against dozens of defendants, and nearly all have been settled based on the strength of the patents. The ongoing trend in cases of this nature represents a broad market adoption of technology.
About Marathon Patent Group:
Based in Alexandria, VA, Marathon Patent Group is a patent acquisition and licensing company. We acquire patents from a wide range of patent holders from individual inventors to Fortune 500 companies. Our strategy of acquiring patents that cover a wide-range of subject matter allows us to achieve diversity within our patent asset portfolio. We generate revenue with our diversified portfolio through actively managed concurrent licensing campaigns. This approach is expected to result in a long-term, diversified revenue stream. To learn more about Marathon Patent Group, visit http://www.marathonpg.com/.
About Mishcon de Reya New York LLP
Mishcon de Reya New York LLP commenced operations in 2010 and has subsequently grown to over 25 attorneys with capabilities across ten different practice areas: Complex Civil Litigation, IP and Patent Litigation, Family, International Arbitration, Internal Investigations, White Collar Criminal and Regulatory Defense, Fraud and Asset Recovery, Hedge and Mutual Funds, and Employment Litigation. We fiercely guard our clients' interests, offer flexibility in what can be an overly rigid profession and avoid traditional models. The firm acts for plaintiffs and defendants, institutions and individuals, with very low levels of conflict. We are trial lawyers, experienced advocates at both the trial and appellate levels.
Many of these influences stem from Mishcon de Reya London, which in 2012 celebrated the 75th anniversary of its founding, the same year in which it was recognized by its peers as U.K. Law Firm of the Year not once, but twice. Both offices have a strong litigation heritage, with more than 200 litigators representing a diverse portfolio of clients in more than 60 countries.
Forward Looking Statements:
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.
Investor Relations Contacts:
The Del Mar Consulting Group, Inc.
Robert B. Prag
Source: Marathon Patent Group
Released February 27, 2014