GAIN Capital Responds to Patent Lawsuit Brought by OANDA

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.

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”.

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 Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term.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 Online Trading Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Read this Term 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.