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MIAX Successful as PTAB Invalidates Sixth and Final Nasdaq Patent; All Asserted Patents Now Invalidated

Nachrichtenquelle: PR Newswire (engl.)
14.11.2019, 20:16  |  387   |   |   

PRINCETON, N.J., Nov. 14, 2019 /PRNewswire/ -- Miami International Holdings, Inc. (MIH), the parent holding company of the MIAX Options, MIAX PEARL and MIAX Emerald exchanges (MIAX), today announced that the sixth and final Nasdaq patent asserted against MIAX as part of its infringement complaint has been found invalid by the Patent Trial and Appeal Board (PTAB) of the United States Patent and Trademark Office. The PTAB ruled in its final written decision that all claims of Nasdaq's U.S. Patent No. 7,933,827 are unpatentable under 35 U.S.C. Section 101.      

The PTAB invalidated each of the six patents asserted by Nasdaq in its complaint. In each case, the PTAB ruled that all claims brought under each are unpatentable under current law.  

"The PTAB's invalidation of all six Nasdaq patents and Nasdaq's prior withdrawal of a seventh patent claim are a major victory for MIAX and a testament to the honest, hardworking collective commitment by our employees to build the best exchanges in the world on our own over the past nine years," said Thomas P. Gallagher, Chairman and CEO of MIH.

Said Barbara J. Comly, Executive Vice President and General Counsel of MIH, "To say we are pleased with the outcome would be an understatement, and we will vigorously defend any appeals of these patent decisions by Nasdaq. We would like to thank our outside legal counsel from Reed Smith LLP and Fish & Richardson P.C. for their outstanding work and the favorable PTAB rulings that have been secured."  

Continued Gallagher, "From the day that this complaint was filed we have always maintained the frivolousness of Nasdaq's case, and the PTAB's rulings make this clearly apparent. We would like to thank our member firms that have supported us during this baseless litigation as we continue to grow market share, bring new exchanges to market and launch our proprietary products such as SPIKES Options and SPIKES Futures."  

For further information regarding MIAX, please visit www.MIAXOptions.com or contact MIAX Trading Operations at TradingOperations@MIAXOptions.com

Corporate Communications Contact:  

Dominique Prunetti-Miller


(609) 897-1465


dprunetti@miami-holdings.com

About MIH

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