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 premier global provider of high quality data, market intelligence, and productivity solutions to investment banking and corporate clients. With decades of experience serving the capital markets, and a reputation for superior customer service, Ipreo is both a dynamic innovator and a trusted resource. Ipreo has more than 600 employees and operations throughout the world. Ipreo is majority-owned by private equity firm KKR (www.kkr.com). For more information, please go to www.ipreo.com.
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Press Contacts:
- For Ipreo
- Kate McKay
- 212.849.5060
