IMX Wins In Patent Lawsuit Against LendingTree -- Judge Enhances Damage Award by 50%, Considers Permanent Injunction
IMX, Inc., a leading provider of technology solutions for the mortgage industry, today announced that Chief Judge Sue Robinson affirmed the jury verdict of willful patent infringement in its intellectual property case against LendingTree, LLC in the U.S. U.S. District Court of Delaware (action number Civ. No. 03-1067-SLR).
Houston, TX (PRWEB) January 12, 2007 -- IMX, Inc., a leading provider of technology solutions for the mortgage industry, today announced that Chief Judge Sue Robinson affirmed the jury verdict of willful patent infringement in its intellectual property case against LendingTree, LLC in the U.S. District U.S. District Court of Delaware (action number Civ. No. 03-1067-SLR).
On Wednesday, January 10, in a 52 page opinion, Chief Judge Robinson affirmed the infringement verdict and further enhanced the damages award by 50% to $8,691,600, as well as awarding pre- and post-judgment interest. Judge Robinson also affirmed the validity and enforceability of IMX's patent (U.S. Patent No. 5,995,947). She also remains open to considering permanently enjoining LendingTree's infringement.
"We are very pleased with the Court's decision," said Michele Buschman, acting CEO of IMX. "We have always maintained that LendingTree infringed on our intellectual property and that our patent is valid. Yesterday, the Court affirmed that is the case. We are also very pleased by the Court's decision to further consider our permanent injunction request in light of the recent eBay case. Our intellectual property is one of our most important assets. We remain committed to protecting that intellectual property and we will take the steps necessary to ensure that LendingTree cannot continue to willfully infringe on our patent."
IMX was represented by DLA Piper US LLP.
About IMX, Inc.
IMX, Inc., based in Houston, Texas, is a leading provider of software solutions for the mortgage industry. IMX offers a comprehensive suite of workflow tools that enable mortgage lenders and originators to communicate and conduct business quickly and efficiently, online. All the Company's products deliver real-time, fully-adjusted pricing to any user with browser access.
IMX is dedicated to helping mortgage professionals apply the efficiencies of Internet technology to their already-existing daily business processes. IMX's innovative and patented (patent #5,995,947) pricing technology delivers unmatched product discovery for brokers and retail branches, and advanced web-enabled distribution channels for lenders. For more information about IMX, please visit www.imx.com or call (800) 401-4639.
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