Prism Campaigns Hobbled by Invalidity Rulings as Insolvency Looms
Publicly traded Prism Technologies Group, Inc. (PTG) has seen two of its key campaigns crippled by invalidity rulings, as the NPE’s struggle to stay in business in spite of rapidly dwindling resources may ultimately blunt the potential impact of a recent appeal victory. In late July, PTG subsidiary Secure Axcess LLC dismissed cases against nearly all of its campaign defendants with prejudice after the Federal Circuit upheld a ruling by the Patent Trial and Appeal Board (PTAB) that cancelled all but one of the asserted patent’s claims. Meanwhile, in the campaign waged by PTG subsidiary Prism Technologies LLC, the Federal Circuit upheld in late June the invalidation of two patents-in-campaign under Alice in a victory for T-Mobile, later declining to overturn a previous, $30M verdict against Sprint involving those same patents. However, Sprint continues to fight that ruling, and PTG’s litigation costs continue to accumulate even as recent reporting on its financial results indicate that it is running out of cash.
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