LOS ANGELES, CA--(Marketwired - Apr 18, 2017) - Marathon Patent Group, Inc. (NASDAQ: MARA) ("Marathon" or "Company"), an IP licensing and management company, today that its wholly-owned subsidiary, Munitech IP S.a.r.l., ("Munitech"), has entered into a settlement and license agreement with four defendants. The consideration to be paid to Munitech and all other terms of the license agreement are confidential.
Patent infringement lawsuits remain against the following companies in the Regional Court of Dusseldorf in Germany.
- Xiaomi Technology Co. LTD.
- Telecom Deutschland GmbH
- Vodafone GmbH
- Telefonica Germany GmbH & Co. OHG
The Munitech patents cover W-CDMA and GSM cellular technology. Significantly, most of the patent families have been declared to be Standard Essential Patents ("SEPs") with the European Telecommunications Standard Institute ("ETSI") and/or the Association of Radio Industries and Businesses ("ARIB") related to Long Term Evolution ("LTE"), Universal Mobile Telecommunications System ("UMTS"), and/or General Packet Radio Service ("GPRS").
About Marathon Patent Group, Inc.
Marathon is an IP licensing and management 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.
Statements made in this press release include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, but not limited to, the amount and use of proceeds the Company expects to receive from the sale of the shares of common stock in the registered direct offering and the closing of the transactions. Forward-looking statements can be identified by the use of words such as "may," "will," "plan," "should," "expect," "anticipate," "estimate," "continue," or comparable terminology. Such forward-looking statements are inherently subject to certain risks, trends and uncertainties, many of which the Company cannot predict with accuracy and some of which the Company might not even anticipate, and involve factors that may cause actual results to differ materially from those projected or suggested. Readers are cautioned not to place undue reliance on these forward-looking statements and are advised to consider the factors listed above together with the additional factors under the heading "Risk Factors" in the Company's Annual Reports on Form 10-K, as may be supplemented or amended by the Company's Quarterly Reports on Form 10-Q. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events, new information or otherwise.