Jury Finds Realauction.com's Auction Software Is Not Infringing Grant Street Group's Patent

Plantation, FL (June 20, 2013)- Monday, in a signifcant victory for Realauction.com, LLC, a federal court jury found that Realauction's RealForeclose and RealTaxLien products are not infringing a patent that had been asserted by Grant Street Group, Inc.

In the lawsuit, filed in 2009, Grant Street Group alleged that Realauction's RealForeclose and RealTaxLien online auction platforms were infringing patent number 7,523,063. Grant Street Group was seeking over $32 million in alleged damages as well as a permanent injunction against continued use of both products.

After a two week trial in the U.S. District Court for the Western District of Pennsylvania, the jury found that neither product is infringing the patent. Furthermore, the jury found that RealForeclose had never infringed the patent, and that RealTaxLien has been clear of the patent since a minor design change was implemented three years ago.

Therefore, Grant Street will not be able to obtain an injunction against either product. Realauction and its customers can continue using both products, free and clear of the patent.

The jury awarded damages in connection with an earlier version of RealTaxLien that had been used during the short time between April 21, 2009 and March 9, 2010, "Realauction does not believe the amount of the award is supported by the evidence." said Lloyd McClendon, Realauction CEO. "We expect a significant reduction of the award in post-verdict court proceedings."

In a previous litigation against Thomson Reuters in 2008, an award made to Grant Street Group for $84.6 million was revered in post-verdict court proceedings. In a previous litigation against Realauction in 2009, an award made to Grant Street Group for $1.46 million was reversed in post-verdict court proceedings.

Realauction was represented by David Brafman and Jacqueline M. Arango of Akerman Senterfitt.

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