Marathon Patent Group Wholly Owned Subsidiary MedTech Development Deutschland GmbH Receives Favorable First Instance Patent Infringement Ruling Against Stryker GmbH & Co. KGShare this:
ALEXANDRIA, VA -- (Marketwired) -- 11/03/14 -- Marathon Patent Group, Inc. (NASDAQ: MARA) ("Marathon"), a patent licensing company, announced today that on October 30, 2014, Marathon Patent Group wholly owned subsidiary MedTech Development Deutschland GmbH was notified that two favorable first instance patent infringement rulings have been issued involving the German parts of European patent EP 1 938 765 B1 and EP 1 104 260 B2 ('patents in dispute') before the Düsseldorf District Court. The rulings include injunctive relief and damages, as well as the additional grant of claims for destruction of the infringing products and information on the distribution chain. Formal notification of the ruling is expected shortly.
The rulings apply in the matters of MedTech Development Deutschland GmbH versus Stryker GmbH & Co. KG ("Stryker Germany") concerning medical devices offered by Stryker Germany for the use in kyhpoplasty surgery. Parallel proceedings are pending against Argomedical GmbH, Joimax GmbH, Joline GmbH & Co., Maxxspine Ltd., Optimed Medizinische Instrumente GmbH, Sam Medical GmbH and G-21 s.r.l., Signus Medizintechnik GmbH and PanMed Ltd., Ulrich GmbH & Co., and Direct Flow Medical. There are also ongoing validity proceedings pending with respect to which a ruling is not expected until some later point in time. The invalidity determinations are being handled by a different court. The Düsseldorf District Court has not been convinced of a high likelihood of patent invalidation and therefore, in its recent rulings, has rejected Stryker Germany's request for a stay of the infringement proceedings.
"We are pleased that the Düsseldorf District Court has found for infringement and that we will be able to seek injunctive relief," said Doug Croxall, Founder and CEO of Marathon Patent Group.
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 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
Chief Marketing Officer
Source: Marathon Patent Group
Released November 3, 2014Share this: