News Column

BRIEF: Downtown company reaches settlement in patent dispute

August 9, 2014

By Brian Bowling, The Pittsburgh Tribune-Review



Aug. 09--Grant Street Group Inc., a pioneer of online municipal bond auctions located Downtown, and Realauction.com LLC of Plantation, Fla., have reached a settlement in their patent dispute, according to court documents.

A spokeswoman for Grant Street Group declined comment. A spokesman for Realauction couldn't immediately be reached.

A Pittsburgh federal jury on June 17, 2013, found that Realauction's RealTaxLien software violated one of Grant Street Group's patents and awarded the Pittsburgh company $8.1 million in damages.

The Florida company filed for Chapter 11 bankruptcy on July 31, 2013, with the damage award listed as its biggest debt. In a July 7 motion to dismiss the bankruptcy case, the company cites the agreement with Grant Street Group as the reason for coming out of bankruptcy.

U.S. District Judge Mark Hornak on Friday granted a motion from both sides to dismiss the lawsuit. The motion and order don't provide any details of the settlement.

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(c)2014 The Pittsburgh Tribune-Review (Greensburg, Pa.)

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Source: Pittsburgh Tribune-Review (PA)


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