Grant Street Group Responds to Realauction’s Recent Press Release Regarding Grant Street Group Patent

PITTSBURGH--(BUSINESS WIRE)--On November 12, 2012, Realauction.com, LLC issued a press release alleging that the United States Patent and Trademark Office had found all of the claims of Grant Street Group’s U.S. Patent No. 7,523,063 invalid. As Realauction knows from its prior unsuccessful attempt to invalidate Grant Street’s Patent, a patent cannot be found invalid by the Patent Office until a reexamination certificate has issued. No reexamination certificate has been issued in the current reexamination proceeding, which was initiated by Realauction.

Grant Street Group anticipates that the Patent Office will once again affirm the validity of the claims of Grant Street’s patent that have been asserted against Realauction, which will permit the patent infringement suit against Realauction for its RealTaxLien and RealForeclose products to proceed to trial.

About Grant Street Group
Grant Street Group (www.GrantStreet.com) has been supplying software as a service to more than 3,800 government and financial institution clients since 1997. Grant Street is the world’s largest internet auctioneer, conducting online auctions of bonds, notes, CDs, tax certificates, tax deeds, foreclosures and other financial and legal instruments with a value exceeding $11 trillion. Grant Street Group is also the nation’s only supplier of fully-hosted tax billing, collection and cashiering software as a service, including e-payment processing.