Internet Brands (INET) and Autobytel (ABTL) Announce Settlement of Multi-Party Patent Litigation
Internet Brands, Inc. (NASDAQ: INET) and Autobytel Inc. (NASDAQ: ABTL) announced that, along with Insweb Corporation and Leadpoint, Inc., they have entered into a settlement agreement resolving Autobytel's lawsuit filed against Internet Brands, Insweb and Leadpoint in the U.S. District Court in the Eastern District of Texas, Marshall Division, relating to Autobytel's U.S. Patent Number 6,282,517 for lead technology.
The settlement agreement also resolves a patent claim filed by Insweb, Internet Brands and Leadpoint in the U.S. District Court in the Southern District of California related to Insweb's U.S. Patent No. 6,898,597 for lead management technology and Internet Brands' Complaint in Interpleader and Demand for Arbitration filed against Autobytel with the American Arbitration Association relating to a strategic co-marketing agreement between Internet Brands and Autobytel's subsidiary, Autoweb.com, Inc.
"We're pleased that we were able to resolve these matters and expand our partnership with Autobytel," said Bob Brisco, CEO of Internet Brands. "Internet Brands and Autobytel are both leaders in the online automotive industry, and this agreement ensures that we will continue our long-standing working relationship."
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