FlexShopper Files Patent Infringement Lawsuits Against Upbound Group, Inc. and Katapult Holdings, Inc.
FlexShopper, Inc. (Nasdaq: FPAY), a leading online lease-to-own retailer and payment solutions provider, has filed patent infringement lawsuits against Upbound Group, Inc. (Nasdaq: UPBD) and Katapult Holdings, Inc. (Nasdaq: KPLT). The legal action, filed in the U.S. District Court for the Eastern District of Texas, alleges unauthorized use of FlexShopper's patented technologies.
The lawsuits focus on five key patents granted between 2018 and present, which protect FlexShopper's computer-implemented lease-to-own (LTO) technology. FlexShopper has retained Quinn Emanuel Urquhart & Sullivan, LLP to represent them in these cases.
FlexShopper is seeking both injunctive relief to prevent further infringement and monetary damages. The patents in question cover innovative systems and methods for enabling retailers to partner with third-party lease-to-own providers, facilitating seamless lease-to-own transactions for consumers.
FlexShopper, Inc. (Nasdaq: FPAY), un rivenditore online leader nel settore del leasing con opzione di acquisto e fornitore di soluzioni di pagamento, ha intentato cause per violazione di brevetto contro Upbound Group, Inc. (Nasdaq: UPBD) e Katapult Holdings, Inc. (Nasdaq: KPLT). L'azione legale, presentata presso il Tribunale Distrettuale degli Stati Uniti per il Distretto Orientale del Texas, accusa l'uso non autorizzato delle tecnologie brevettate di FlexShopper.
Le cause legali si concentrano su cinque brevetti chiave concessi tra il 2018 e il presente, che proteggono la tecnologia di leasing con opzione di acquisto (LTO) implementata al computer da FlexShopper. FlexShopper ha ingaggiato Quinn Emanuel Urquhart & Sullivan, LLP per rappresentarla in questi casi.
FlexShopper richiede sia misure cautelari per prevenire ulteriori violazioni che danni monetari. I brevetti in questione riguardano sistemi e metodi innovativi per consentire ai rivenditori di collaborare con fornitori terzi di leasing con opzione di acquisto, facilitando transazioni di leasing con opzione di acquisto senza soluzione di continuità per i consumatori.
FlexShopper, Inc. (Nasdaq: FPAY), un importante minorista en línea de arrendamiento con opción de compra y proveedor de soluciones de pago, ha presentado demandas por violación de patentes contra Upbound Group, Inc. (Nasdaq: UPBD) y Katapult Holdings, Inc. (Nasdaq: KPLT). La acción legal, presentada en el Tribunal de Distrito de EE. UU. para el Distrito Este de Texas, alega uso no autorizado de las tecnologías patentadas de FlexShopper.
Las demandas se centran en cinco patentes clave otorgadas entre 2018 y el presente, que protegen la tecnología de arrendamiento con opción de compra (LTO) implementada por computadora de FlexShopper. FlexShopper ha contratado a Quinn Emanuel Urquhart & Sullivan, LLP para representarlos en estos casos.
FlexShopper busca tanto medidas cautelares para prevenir futuras infracciones como daños monetarios. Las patentes en cuestión cubren sistemas y métodos innovadores que permiten a los minoristas asociarse con proveedores de arrendamiento con opción de compra de terceros, facilitando transacciones de arrendamiento con opción de compra sin problemas para los consumidores.
FlexShopper, Inc. (Nasdaq: FPAY), 온라인 임대 구매(RTO) 소매업체이자 결제 솔루션 제공업체,가 Upbound Group, Inc. (Nasdaq: UPBD) 및 Katapult Holdings, Inc. (Nasdaq: KPLT)를 상대로 특허 침해 소송을 제기했습니다. 이 법적 조치는 텍사스 동부 지구의 미국 지방 법원에 제출되었으며, FlexShopper의 특허 기술을 무단으로 사용했다고 주장합니다.
소송은 2018년부터 현재까지 부여된 키 패턴 5개에 초점을 맞추고 있으며, 이는 FlexShopper의 컴퓨터 구현 임대 구매(LTO) 기술을 보호합니다. FlexShopper는 이러한 사건을 위해 Quinn Emanuel Urquhart & Sullivan, LLP를 고용했습니다.
FlexShopper는 추가적인 침해를 방지하기 위한 금지명령과 금전적 손해배상을 요청하고 있습니다. 문제의 특허는 소매업체가 제3의 임대 구매 제공업체와 파트너십을 맺을 수 있도록 하는 혁신적인 시스템과 방법을 다루며, 소비자를 위한 원활한 임대 구매 거래를 용이하게 합니다.
FlexShopper, Inc. (Nasdaq: FPAY), un détaillant en ligne de premier plan offrant des locations-achat et des solutions de paiement, a déposé des poursuites pour violation de brevet contre Upbound Group, Inc. (Nasdaq: UPBD) et Katapult Holdings, Inc. (Nasdaq: KPLT). L'action en justice, déposée devant le tribunal de district des États-Unis pour le district est du Texas, allègue une utilisation non autorisée des technologies brevetées de FlexShopper.
Les poursuites se concentrent sur cinq brevets clés accordés entre 2018 et aujourd'hui, qui protègent la technologie de location-achat (LTO) mise en œuvre par ordinateur de FlexShopper. FlexShopper a retenu les services de Quinn Emanuel Urquhart & Sullivan, LLP pour les représenter dans ces affaires.
FlexShopper cherche à obtenir à la fois des mesures injonctives pour prévenir de futures violations et des dommages-intérêts. Les brevets en question couvrent des systèmes et des méthodes innovantes permettant aux détaillants de s'associer à des fournisseurs tiers de location-achat, facilitant ainsi les transactions de location-achat sans heurts pour les consommateurs.
FlexShopper, Inc. (Nasdaq: FPAY), ein führender Online-Anbieter von Miet-Kauf-Lösungen und Zahlungsdienstleistungen, hat Patentverletzungsklagen gegen Upbound Group, Inc. (Nasdaq: UPBD) und Katapult Holdings, Inc. (Nasdaq: KPLT) eingereicht. Die rechtlichen Schritte, die vor dem US-Bezirksgericht für den östlichen Distrikt von Texas eingereicht wurden, werfen dem Unternehmen die unbefugte Nutzung der patentierten Technologien von FlexShopper vor.
Die Klagen konzentrieren sich auf fünf wichtige Patente, die zwischen 2018 und heute erteilt wurden und die computerimplementierte Miet-Kauf (LTO)-Technologie von FlexShopper schützen. FlexShopper hat Quinn Emanuel Urquhart & Sullivan, LLP engagiert, um sie in diesen Fällen zu vertreten.
FlexShopper strebt sowohl gerichtliche Verfügungen zur Verhinderung weiterer Verstöße als auch Schadensersatz an. Die fraglichen Patente umfassen innovative Systeme und Methoden, die es Einzelhändlern ermöglichen, mit Drittanbietern von Miet-Kauf-Lösungen partnerschaftlich zusammenzuarbeiten, um reibungslose Miet-Kauf-Transaktionen für Verbraucher zu erleichtern.
- FlexShopper is taking action to protect its intellectual property
- The company has five key patents for its lease-to-own technology
- Potential for monetary damages if the lawsuits are successful
- Legal proceedings may incur significant costs for FlexShopper
- Uncertain outcome of the patent infringement lawsuits
Insights
This patent infringement lawsuit marks a significant development in the lease-to-own (LTO) technology sector. FlexShopper's action against major competitors Upbound Group and Katapult Holdings could have far-reaching implications for the industry. The lawsuit centers on five key patents related to FlexShopper's LTO platform, which suggests the company has a substantial intellectual property portfolio in this space.
The engagement of Quinn Emanuel, a top-tier law firm known for high-stakes litigation, indicates FlexShopper's seriousness in pursuing this case. If successful, the lawsuit could result in significant financial damages and potentially disrupt the operations of Upbound and Katapult. The request for injunctive relief is particularly noteworthy, as it could force competitors to cease using the allegedly infringing technologies, potentially giving FlexShopper a significant market advantage.
However, patent litigation is often complex and protracted. The outcome will likely depend on the strength of FlexShopper's patents and the extent to which the defendants' technologies overlap with the patented inventions. Investors should monitor this case closely, as its resolution could significantly impact the competitive landscape in the LTO sector.
This legal action by FlexShopper could have substantial financial implications for all parties involved. For FlexShopper, with a market cap of just
For Upbound Group and Katapult Holdings, both larger entities, the lawsuit poses a risk to their business models and future revenue streams. If found to be infringing, they may face not only monetary damages but also the need to redesign their systems, potentially incurring substantial costs and losing market position.
The LTO market is growing and this lawsuit could reshape the competitive landscape. A win for FlexShopper might lead to licensing agreements or partnerships, creating new revenue streams. However, patent cases are unpredictable and a prolonged legal battle could impact all companies' financial performance and investor sentiment in the short to medium term. Investors should closely monitor legal developments and assess potential impacts on each company's financials and market position.
BOCA RATON, Fla., Oct. 01, 2024 (GLOBE NEWSWIRE) -- FlexShopper, Inc. (Nasdaq: FPAY), (“the Company”), a leading online lease-to-own retailer and payment solutions provider, has initiated legal action to defend its intellectual property. The Company has filed patent infringement lawsuits against Upbound Group, Inc. (Nasdaq: UPBD) (including its Acima subsidiaries) and Katapult Holdings, Inc., (Nasdaq: KPLT) alleging unauthorized use of FlexShopper's patented technologies.
FlexShopper has retained the renowned law firm Quinn Emanuel Urquhart & Sullivan, LLP to represent it in these cases, which were filed in the U.S. District Court for the Eastern District of Texas. The lawsuits revolve around five key patents, granted between 2018 and the present, which protect FlexShopper’s computer-implemented lease-to-own (LTO) technology. The specific patents include US10282778B1, US10891687B2, US12067611B2, US10089682B1, and US11966969B2.
“FlexShopper has invested heavily in creating an innovative, next-generation lease-to-own platform, and these five patents are central to that system,” said Russ Heiser, CEO of FlexShopper. “We believe that certain competitors have infringed upon our intellectual property, building substantial businesses using our innovations. We are confident that, with the expertise of Quinn Emanuel, we will address these infringements swiftly and effectively.”
The lawsuits accuse Upbound Group and Katapult of multiple forms of infringement, including direct infringement, contributory infringement, and inducement of others to infringe. FlexShopper is seeking both injunctive relief to prevent further infringement and monetary damages.
The patents in question cover FlexShopper’s innovative systems and methods for enabling retailers to partner with third-party lease-to-own providers, facilitating seamless lease-to-own transactions for consumers.
About FlexShopper
FlexShopper, Inc. is a leading national financial technology company that offers innovative payment options to consumers. FlexShopper provides a variety of flexible funding options for underserved consumers through its direct-to-consumer online marketplace at Flexshopper.com and in partnership with merchants both online and at brick-and-mortar locations. FlexShopper’s solutions are crafted to meet the needs of a wide range of consumer segments through lease-to-own and lending products.
Contacts
For FlexShopper:
Investor Relations
ir@flexshopper.com
Investor and Media Contact:
Andrew Berger, Managing Director
SM Berger & Company, Inc.
Tel: (216) 464-6400
andrew@smberger.com
FAQ
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