SOURCE: Marathon Patent Group

Marathon Patent Group

August 29, 2016 08:00 ET

Marathon Patent Group Announces Ruling in Signal IP Case Against Toyota North America

Stay of Proceedings Concerning '927 Patent Lifted and Trial Date Set

LOS ANGELES, CA--(Marketwired - Aug 29, 2016) - Marathon Patent Group, Inc. (NASDAQ: MARA) ("Marathon" or "Company"), an IP licensing and commercialization company, today announced that on August 24, 2016, Judge John A. Kronstadt, district judge for the United States District Court for the Central District of California, issued a ruling in Signal IP, Inc. v. Toyota North America, et al, 2-15-cv-05162. 

"The Court has reviewed the Joint Report Regarding the Stay Pending Inter Partes Review (Dkt. 78). Based on that review, this action is severed as follows: ... [t]he proceedings concerning the '007 and '375 patents are stayed pending the outcome of the IPR proceedings. The stay of proceedings concerning the '927 patent is lifted, and the following schedule is adopted ... [j]ury Trial set for 12/12/2017 ... Markman Hearing set on 1/26/2017."

"We are pleased with Judge Kronstadt's ruling to sever the CACD case and to lift the stay in the proceedings concerning the '927 patent, allowing the case to proceed," said Doug Croxall, CEO of Marathon Patent Group.

About Marathon Patent Group

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. 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.

Contact Information

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    Marathon Patent Group
    Jason Assad
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