Press Releases
15 July 08
Court of Appeals rules in favor of i-Deal and Thomson
New York - July 15, 2008 - Ipreo, parent company to i-Deal LLC, announced today that the United States Court of Appeals for the Federal Circuit has reversed the district court ruling on the MuniAuction patent litigation, ruling that i-Deal's Parity® electronic bidding system does not infringe on a patent obtained by MuniAuction.
According to the official court order, the Court of Appeals has concluded that i-Deal "clearly and convincingly" established their case that many of the claims are "obvious as a matter of law," that the Parity® product does not infringe on an existing patent, and the "remainder of the district court's judgment is vacated."
"We are extremely pleased that the court has recognized the validity of our case by ruling in our favor so definitively," said Scott Ganeles, CEO of Ipreo. "During the course of this case we've remained confident in the strength of our position, and today's ruling certainly vindicates that."
"Our clients have shown tremendous support and loyalty throughout this process," added Allen Williams, Managing Director and EVP of Capital Markets for Ipreo. "We are thrilled to be able to provide continuous support to the municipal community with the highest level of service. We look forward to regaining the flexibility to develop and provide the most advanced and streamlined solutions to our clients."
About Ipreo
Ipreo is a global leader in providing market intelligence, data, and technology solutions to all participants in the global capital markets, including sell-side banks, publicly traded companies, and buy-side institutions. From new issuance through ongoing investor management, our unique solutions drive connectivity and efficiency throughout all stages of the capital-raising process. Ipreo is a KKR portfolio company with more than 600 employees supporting clients in every major financial center around the world. For more information, please go to www.ipreo.com.
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Press Contacts:
- For Ipreo
- Kate McKay
- Managing Director, Global Marketing & Communications
- 212.849.5060
