New York – September 28, 2007 – Ipreo, parent company to i-Deal LLC, announced today that the United States Court of Appeals for the Federal Circuit has granted a stay of the injunction ruling in the MuniAuction patent litigation, allowing i-Deal to continue to operate and service its Parity® electronic bid submission software, pending conclusion of the appeal case.
According to the official court order, the Court of Appeals has concluded “that there is a strong likelihood of success on the merits of [i-Deal’s/Thomson’s] appeal and that a stay is warranted.”
“We are extremely pleased that the court has recognized the validity of our case by indicating the likelihood of success on the merits,” said Scott Ganeles, CEO of Ipreo. “We’ve always believed in the soundness of our position, and this ruling further strengthens our confidence in the ultimate success of our appeal.”
“The i-Deal team has been appreciative of the support and loyalty our customers have shown throughout this process,” added Allen Williams, Managing Director and EVP of Capital Markets for Ipreo. “This stay will allow us to continue to service our clients with the industry-standard solution that the marketplace relies upon for new issuance every day.”
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. By combining state-of-the-art new issuance systems with the premier global financial and investor data, Ipreo enables our capital markets clients to execute deals more efficiently, maximizing time and resources. Our applications include end-to-end bookbuilding systems, roadshow & conference management platforms, and electronic document delivery. Additionally, Ipreo’s suite of investor prospecting and CRM solutions offers the most accurate and comprehensive institutional contacts data and profiles in the industry. Ipreo is the only financial services provider to offer solutions across all asset classes for the Equity, Fixed Income, Municipal, and Syndicated Loan markets. Ipreo is a KKR portfolio company with nearly 700 employees supporting clients in every major financial center around the world. For more information, please go to www.ipreo.com.
- For Ipreo
- Kate McKay
- Managing Director, Global Marketing & Communications