Former Bloomberg Television reporter, Donna Kline, launches an investigation into Facebook’s recent IPO filing and legal proceedings.
Currently producing videos for The Pittsburgh Business Report, in conjunction with BluMars Media, Ms. Kline has delved in to Facebook’s recent filing with the SEC to issue common shares along with a Federal case involving Facebook and Leader Technologies (Fed. Cir. Case No. 2011-1366.)
Pittsburgh, PA (PRWEB) February 23, 2012
An email from her former college professor that tipped Ms. Kline off to the Leader v. Facebook trial. (Fed. Cir. Case No. 2011-1366.) “I couldn’t believe that this trial hadn’t 1) been discussed in mainstream media, or 2) been disclosed in the S-1 filing”, said Ms. Kline. “I just HAD to investigate this further.”
Ms. Kline has discovered that Facebook is involved in a federal trial (Fed. Cir. Case No. 2011-1366) and that oral arguments will begin March 5, 2012. On July 29, 2008, in a split decision, Facebook was found guilty of infringement against U.S. Patent # 7,139,761, but prevailed on an “on sale bar” claim. (See Leader Technologies, Inc. v. Facebook, Inc., 08-CV-862-LPS (D. Del. 2008.) Leader Technologies is appealing the decision in Federal Court (Fed. Cir. Case No. 2011-1366.)
She also discovered that while Facebook filed for an initial public offering on February 1, 2012, there is no specific mention of the pending federal trial (Fed. Cir. Case No. 2011-1366) against Facebook by Leader Technologies in the report.
The law firm for Facebook, as stated on their S-1, is Fenwick & West LLP. This is the same firm that represented Leader Technologies in 2002, the pivotal period of the “on sale bar” claim during the original jury trial. (See Leader Technologies, Inc. v. Facebook, Inc., 08-CV-862-LPS (D. Del. 2008.) Again, a fact not mentioned in the S-1.
If Leader Technologies prevails at appeal, Facebook could be subject to hundreds of millions of dollars in damages.
The Pittsburgh Business Report details these findings in the attached video and more details can be found at http://www.DonnaKlineNow.com.
Ms. Kline has been involved with the financial markets for over 20 years and in television for 10. Her most recent projects include video interviews with influential members of the business community for The Pittsburgh Business Report. She recently launched DLK Industries, which is a firm designed increase clients’ Internet visibility through press releases, improvements in both internal and external communication and video production.
For more information on this investigation, or to add additional commentary, please visit http://www.DLKIndustries.com, or contact Ms. Kline directly at: Donna(at)DLKIndustries(dot)com.
For the original version on PRWeb visit: http://www.prweb.com/releases/prweb2012/2/prweb9212224.htm