GAIN Capital Responds to Patent Lawsuit Brought by OANDA

OANDA Corporation has accused GAIN of patent infringement for U.S. Patent Nos. 7,146,336 and 8,392,311.

GAIN Capital, an online brokerage, has responded to a lawsuit brought by OANDA Corporation in which the latter has accused the former of patent infringement, namely, U.S. Patent Nos. 7,146,336 (“the ’366 patent”) and 8,392,311 (“the ’311 patent”).

In particular, the counsel of Defendants GAIN Capital Holdings, Inc. and GAIN Capital Group, LLC will appear before the Brian R. Martinotti, United States District Judge for New Jersey and ask for the Complaint against them to be dismissed.

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According to a court document seen by Finance Magnates, GAIN Capital will move the Court for an Order “dismissing Plaintiff Oanda Corporation’s (“Plaintiff”) Complaint against them pursuant to Federal Rule of Civil Procedure 12(b)(6) for failure to state a claim upon which relief can be granted”.

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Accusations from OANDA against GAIN Capital

In earlier court documents as part of this case, OANDA claims that: “Defendants have infringed one or more claims of the ʼ336 Patent by making, using, selling, offering for sale, or selling products and/or services that meet each of the limitations of one or more claims of the ʼ336 Patent. 

“More specifically, Defendant GAIN Capital Group, LLC has made, used, sold, and offered for sale infringing instrumentalities at https://forex.com, and GAIN Capital Holdings, Inc. has used those infringing instrumentalities, including the application programming interfaces (“APIs”), to operate automated infringing trading systems.”

Furthermore, OANDA alleged that GAIN Capital has continued to operate their online trading platforms and systems in “an infringing manner” despite the fact that they have been notified on at least one occasion by letter specifically referencing the ʼ336 Patent.

“Defendants were aware of their infringement of the ’336 and ʼ311 Patents at least as early as October 25, 2018, when Plaintiff notified Defendants, by letter, of its infringement and yet Defendants continue to cause its Third-Party Infringers to operate or assist in the management of its online trading platforms on its behalf,” OANDA claimed.

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