Marathon Settles Fraud Suit Brought by Symantec

March 25, 2018

Publicly traded Marathon Patent Group, Inc. has announced a settlement with Symantec, ending the company’s litigation against the NPE and several other defendants over alleged fraud and misrepresentations stemming from a 2012 patent monetization agreement. As Marathon recently disclosed in an SEC filing, the settlement was executed on March 8 and has led to the dismissal of litigation filed by Symantec in California state court against Marathon; IPNav and its founder and former CEO Erich Spangenberg; two other entities involved in the relevant transactions, Marathon’s Clouding Corp. and IPNav’s Clouding IP LLC; and Clouding IP’s manager, William J. Carter. The settlement also resolved a related Delaware District Court suit filed by Symantec against IPNav and Spangenberg alone.

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