Alpha Financial Technologies, LLC Responds to Patent Infringement Claim Made by Mount Lucas Management Corporation
DALLAS, Jan. 20, 2012 /PRNewswire/ — Alpha Financial Technologies (“AFT”) has responded to a patent infringement claim made by Mount Lucas Management Corporation (“MLM”) denying MLM’s assertion that the calculation methodology used by AFT’s indices, including the Diversified Trends Indicator index, infringes MLM’s sole U.S. patent. “AFT does not believe that the suit has merit,” said Victor Sperandeo, President and CEO of AFT.
The calculation methodology used by the AFT index accused by MLM to be infringing was created by AFT before the invention claimed by MLM in its patent and such methodology is substantially different from that covered by the MLM patent. As a result, the MLM patent cannot legitimately cover the AFT indices or financial products based on AFT’s indices. AFT is vigorously contesting the claims made by MLM.
AFT has four (4) U.S. Patents and two (2) pending patent applications, each of which pre-date the asserted MLM patent, that cover various investment products which use indices such as AFT’s indices.
SOURCE Alpha Financial Technologies, LLC