28 Sep 07
Court of Appeals Grants Stay to i-Deal & Thomson
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."
About Ipreo
Ipreo is a leading international provider of execution software and high quality data & analytics to Investment Banks and Corporations. Ipreo brings marketing-leading intelligence, robust technology, and superior customer service to all participants in the global capital markets. For more information, please go to www.ipreo.com.
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Press contact:
Kate McKay
Ipreo
212.849.5060