Trial Date Set for Patent Infringement Suit Against Realauction

PITTSBURGH--(BUSINESS WIRE)--Grant Street Group, the world’s largest internet auctioneer and owner of U.S. Patent No. 7,523,063, announced today that a trial date has been set in the United States District Court for the Western District of Pennsylvania for a patent infringement lawsuit filed by Grant Street against Realauction.com, LLC in Federal Court in Pittsburgh. Jury selection will begin on May 29, and the trial will commence on June 3, 2013.

“With this lawsuit, we merely seek to exercise the intellectual property rights lawfully granted us by the United States Government”

Grant Street sued Realauction in 2009 for infringing the ‘063 Patent with its RealTaxLien and RealForeclose products. At trial, Grant Street will seek to recover damages in excess of $25 million and to obtain an immediate injunction prohibiting any further use of Realauction’s infringing RealTaxLien and RealForeclose products. Grant Street will also assert at trial that Realauction willfully infringed the patent.

Since 2009, the U.S. Patent and Trademark Office has confirmed the validity of the '063 Patent claims on three separate occasions; two of those were the result of unsuccessful attempts by Realauction to have the patent invalidated. “There are few patents that have withstood the scrutiny that ours has,” said Myles Harrington, one of the co-inventors and President of Grant Street Group. “With this lawsuit, we merely seek to exercise the intellectual property rights lawfully granted us by the United States Government,” he added.

About Grant Street Group

Grant Street Group (www.GrantStreet.com) has been supplying software as a service to more than 3,800 government and financial institution clients since 1997. Grant Street is the world’s largest internet auctioneer, conducting online auctions of bonds, notes, CDs, tax certificates, tax deeds, foreclosures and other financial and legal instruments with a value exceeding $12 trillion.