SUFFERN, NY, September 23, 2003 — General Patent Corporation (GPC), a leading contingency IP licensing and enforcement firm headquartered in Suffern, New York, announced today that its client, Moen Technologies LLC (Moen), has settled its patent infringement lawsuit against The Coca Cola Company, Inc. (NYSE: KO). GPC represents Moen in the licensing and enforcement of its patent portfolio.
GPC brought suit on behalf of Moen Technologies against Coca Cola in December of 2002, in the U.S. District Court for the Southern District of New York. Coca Cola ultimately agreed to take a license under the patents.
The technology covered by the licensed patents, co-invented by Drs. Arthur (“Skip”) Moen and Alexander Poltorak, pertains to certain aspects of debit platform telecommunications and PIN-based Internet promotions.
“We are delighted to announce that we have reached an amicable resolution of the lawsuit with The Coca Cola Company,” said Alexander Poltorak, GPC’s Chairman and a co-inventor of the one of the patents-in-suit.
“We welcome Coca Cola as a licensee of Moen Technologies and hope that the rest of the industry will respect our intellectual property without the need for litigation,” Dr. Poltorak concluded.