SOURCE: Marathon Patent Group

Marathon Patent Group

October 01, 2015 08:30 ET

Marathon Patent Group Subsidiary Signal IP, Inc. Receives Favorable Order Denying Motion to Stay Filed by Ford Motor Company and Fiat Chrysler Automobiles US

Defendant's Motion to Stay All Proceedings Pending Reexamination and Inter Partes Review Denied

LOS ANGELES, CA--(Marketwired - Oct 1, 2015) - Marathon Patent Group, Inc. (NASDAQ: MARA) ("Marathon"), a patent licensing company, announced that on September 30, 2015, the company's subsidiary Signal IP, Inc., received an order in The District Court of the Eastern District of Michigan ("EDMI") denying defendants Ford Motor Company's ("Ford") and Fiat Chrysler Automobiles US LLC's ("FCA") joint motion to stay all proceedings pending reexamination and Inter Partes Reviews.

Approximately a year ago, the cases against Ford and FCA were transferred from The Central District of California ("CDCA") to EDMI following the grant of an unopposed motion to transfer filed by the two defendants.

The present denial of the defendant's motion to stay by Judge Mark A. Goldsmith of the EDMI follows the denial of the motion to stay by Judge John A. Kronstadt in the CDCA on May 26th, 2015. Trials for the eight cases currently progressing in the CDCA are expected to commence on March 15th, 2016.

Doug Croxall, CEO of Marathon stated, "We are pleased with the order denying defendants Ford Motor Company's and FCA US LLC's joint motion to stay all proceedings pending reexamination and Inter Partes Reviews in the District Court of the Eastern District of Michigan. We look forward to receiving the courts scheduling order and proceeding to trial, much like we are with the remaining eight defendants in the CDCA. The first trial commences March 15, 2016, followed by one every 60 days thereafter, with defendants subject to being advanced on the calendar if an action against one defendant is resolved."

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.

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