CORRECTION - Marathon Patent Group Acquires TLI Communications LLC
ALEXANDRIA, VA -- (Marketwired) -- 09/25/14 -- In the news release, "Marathon Patent Group Acquires TLI Communications LLC," issued earlier today by Marathon Patent Group (NASDAQ: MARA), we are advised by the company that the patent number in the first paragraph should read "6,038,295" rather than "6,3038,295" as originally issued. Complete corrected text follows.
Marathon Patent Group Acquires TLI Communications LLC
Facebook, Inc.'s Petition for Inter Partes Review (IPR) Is Denied
ALEXANDRIA, VA -- September 25, 2014 -- Marathon Patent Group, Inc. (NASDAQ: MARA) ("Marathon"), a patent licensing company, announced today that it has acquired TLI Communications LLC., owner of U.S. patent No. 6,038,295 ('295 patent), which is an apparatus and method for recording, communicating and administering digital images.
The patent is currently being asserted against 18 defendants in Eastern District of Virginia, including, but not limited to, Facebook, Google, Twitter, Yahoo, Pinterest, Apple and others. Mishcon de Reya New York LLP is representing TLI in these actions.
On September 15, 2014, the Patent Trial and Appeal Board (PTAB) of the United States Patent and Trademark Office (USPTO) denied a petition for IPR filed by Facebook, Inc. against Marathon's new subsidiary, TLI Communications LLC and its '295 patent.
The PTAB ruled: "Upon consideration of the Petition and Preliminary Response, we determine that Petitioner has not established a reasonable likelihood of prevailing with respect to any of the challenged claims of the '295 patent. Accordingly, we deny the Petition, and decline to institute inter partes review."
"We are pleased with both this acquisition of TLI Communications and the USPTO's decision denying Facebook, Inc.'s IPR petition," said Doug Croxall, Founder and CEO of Marathon Patent Group. "We will continue to seek reasonable royalty payments from those who infringe the '295' patent. It is our hope that the IPR denial will encourage the parties in suit to reach reasonable licensing arrangements with TLI Communications."
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.
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.
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.
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Source: Marathon Patent Group
Released September 25, 2014