OANDA accuses GAIN Capital of patent infringement however GAIN says the criticism accommodates virtually no factual allegations particular to its merchandise.
Two on-line buying and selling majors – OANDA Company and GAIN Capital, have clashed in Courtroom over alleged patent infringement.
A lawsuit has been filed by OANDA in opposition to GAIN Capital Holdings, Inc. and GAIN Capital Group, LLC (working as FOREX.com) on the New Jersey District Courtroom. FinanceFeeds has been monitoring the developments on this case, and, now that GAIN has responded to OANDA’s allegations, we’re prepared to offer our readers with an outline of this case.
Briefly, OANDA accuses GAIN of patent infringement. The patents on the coronary heart of this lawsuit are U.S. Patent Nos. 7,146,336 (“the ’366 patent”) and eight,392,311 (“the ’311 patent”).
The ʼ336 Patent teaches, inter alia:
“In a single side, the current invention contains a system for buying and selling currencies over a pc community. A most well-liked embodiment contains: (a) a server front-end; (b) at the least one database; (c) a transaction server; (d) a fee server; (e) a pricing engine; (f) an rate of interest supervisor; (g) a commerce supervisor; (h) a worth in danger server; (i) a margin management supervisor; (j) a buying and selling system monitor; and (ok) a hedging engine. In one other side, the current invention contains strategies for buying and selling foreign money over a pc community. In one other side, the current invention contains software program for foreign money buying and selling over a pc community”.
The ’311 Patent teaches, amongst different issues:
“In a single side, the current invention contains a system for buying and selling currencies over a pc community. A most well-liked embodiment contains: (a) a server front-end; (b) at the least one database; (c) a transaction server; (d) a fee server; (e) a pricing engine; (f) an rate of interest supervisor; (g) a commerce supervisor; (h) a worth in danger server; (i) a margin management supervisor; (j) a buying and selling system monitor; and (ok) a hedging engine. In one other side, the current invention contains strategies for buying and selling foreign money over a pc community. In one other side, the current invention contains software program for foreign money buying and selling over a pc community”.
Based on OANDA, GAIN has infringed a number of claims of the ʼ336 Patent by making, utilizing, promoting, providing on the market, or promoting merchandise and/or providers that meet every of the constraints of a number of claims of the ʼ336 Patent. Extra particularly, OANDA alleges that GAIN Capital Group, LLC has made, used, offered, and supplied on the market infringing instrumentalities at https://foreign exchange.com, and GAIN Capital Holdings, Inc. has used these infringing instrumentalities, together with the appliance programming interfaces (APIs), to function automated infringing buying and selling programs.
OANDA insists that the defendants have continued to function their on-line buying and selling platforms and programs in an infringing method, regardless of being notified of its infringement by the plaintiff on at the least one event by letter particularly referencing the ʼ336 Patent.
Moreover, OANDA argues that GAIN has infringed a number of claims of the ʼ311 Patent by making, utilizing, promoting, providing on the market, or promoting merchandise and/or providers that meet every of the constraints of a number of claims of the ʼ311 Patent. Extra particularly, OANDA claims that GAIN Capital Group, LLC has made, used, offered, and supplied on the market infringing instrumentalities at https://foreign exchange.com, and GAIN Capital Holdings, Inc. has used these infringing instrumentalities, together with the APIs, to function automated infringing buying and selling programs.
OANDA alleges that the defendants have continued to function their on-line buying and selling programs in an infringing method, regardless of being notified of their infringement by the plaintiff on at the least one event by letter particularly referencing the ʼ311 Patent.
The plaintiff seeks judgment that the defendants contribute to and induce the infringement of a number of claims of the ʼ311 and ʼ336 Patents, actually and/or beneath the doctrine of equivalents. It additionally seeks an order for an accounting, in addition to an award of damages pursuant to 35 U.S.C. §284 enough to compensate the plaintiff for defendants’ previous infringements, and any persevering with or future infringement, up till the date that the plaintiff’s patent expires.
On July 17, 2020, GAIN Capital Holdings, Inc. and GAIN Capital Group, LLC submitted a short in assist of their movement to dismiss beneath Fed. R. Civ. P. 12(b)(6) OANDA’s Criticism for Patent Infringement.
GAIN argues that OANDA’s Criticism accommodates virtually no factual allegations particular to GAIN merchandise and fails to even establish a single particular GAIN product. As an alternative, OANDA’s Criticism falls far in need of the necessities for a enough patent infringement criticism, the defendants say.
“The physique of OANDA’s Criticism merely identifies every patent, identifies one GAIN web site by internet deal with with out naming any particular GAIN product as an accused product, and makes conclusory allegations of infringement, inducement, and willfulness”, GAIN notes.
Moreover, GAIN argues that there aren’t any particular allegations concerning the accused merchandise or how they may infringe (apart from conclusory statements parroting the patent claims), and there’s no indication that OANDA is aware of the solutions to these questions.
“As a result of OANDA’s Criticism presents a well-known state of affairs of threadbare and perfunctory pleading that courts have seen earlier than and deemed inadequate”, GAIN requests that the Courtroom dismiss OANDA’s Criticism.
— to financefeeds.com
