Markforged Announces Positive Ruling in Patent Infringement Lawsuit
Ruling eliminates all patent infringement claims made by Continuous Composites in its original July 2021 complaint
WATERTOWN, Mass. – April 4, 2023 – Markforged (NYSE: MKFG) the company strengthening manufacturing resiliency by enabling industrial production at the point of need, announced that the United States District Court for the District of Delaware issued a ruling eliminating all four patents originally asserted by Continuous Composites against Markforged in July 2021. The court ruling confirms that Markforged does not infringe these patents and supports Markforged's position that these claims were meritless.
This outcome stems from a recent “Claim Construction” proceeding where both parties presented arguments for how the key concepts of each patent should be interpreted. Based on the arguments presented, the court sided with Markforged’s interpretation of a phrase in the patents. Following this ruling, Continuous Composites conceded that the four patents should be removed from the case. Continuous Composites agreed to the order. After this ruling, only a single, recently-issued patent that was added to the case in February 2022 remains.
Markforged maintains its position that it does not infringe this last patent, and will continue to defend against the remaining claims. The company is focused on serving the more than 10,000 global manufacturers who rely on Markforged technology every day to produce mission critical parts directly at the point of need.
“We are very pleased with this ruling, which largely validates Markforged’s position that we do not infringe any of Continuous Composites’ patents,” said Shai Terem, President and CEO of Markforged. “From the start, we believed the Continuous Composite lawsuit to be meritless, and it is gratifying to see this bear out as the case progresses. After this ruling any potential exposure related to the matter is limited to the one remaining patent, and we plan to continue to mount an aggressive defense of the few remaining claims against us.”
About Markforged
Markforged (NYSE:MKFG) is making manufacturing more resilient and flexible by bringing on-demand industrial production to the point of need. The Markforged Digital Forge – the reliable, intelligent and easy-to-use additive manufacturing platform – empowers any manufacturer to create strong and accurate end-use parts repeatably in both metal and composites anywhere and anytime. Over 10,000 customers across 70+ countries use The Digital Forge to overcome limitations of traditional manufacturing while strengthening their supply chains. Markforged is headquartered in Watertown, Mass., where it designs the hardware, software and materials that powers its platform. To learn more, visit www.markforged.com.
Special Note Regarding Forward-Looking Statements
This press release contains forward-looking statements that are based on beliefs and assumptions and on information currently available. In some cases, you can identify forward-looking statements by the following words: “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “strategy,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing,” “opportunity” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. Although Markforged believes that it has a reasonable basis for each forward-looking statement contained in this press release, Markforged cautions you that these statements are based on a combination of facts and factors currently known by it and its projections of the future, about which it cannot be certain. Forward-looking statements in this press release include, but are not limited to, the outcome of any legal proceedings against Markforged. Markforged cannot assure you that the forward-looking statements in this press release will prove to be accurate. These forward looking statements are subject to a number of risks and uncertainties, including, among others, general economic, political and business conditions; the ability of Markforged to maintain its listing on the New York Stock Exchange; the effect of COVID-19 on Markforged’s business and financial results; the outcome of any legal proceedings against Markforged; and those factors discussed under the header “Risk Factors” in Markforged’s most recent periodic and other filings with the SEC. Furthermore, if the forward-looking statements prove to be inaccurate, the inaccuracy may be material. In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by us or any other person that Markforged will achieve its objectives and plans in any specified time frame, or at all. The forward-looking statements in this press release represent Markforged’s views as of the date of this press release. Markforged anticipates that subsequent events and developments will cause its views to change. However, while Markforged may elect to update these forward-looking statements at some point in the future, Markforged has no current intention of doing so except to the extent required by applicable law. You should, therefore, not rely on these forward-looking statements as representing Markforged’s views as of any date subsequent to the date of this press release.
Contacts
Investors
Austin Bohlig, Director of Investor Relations
investors@markforged.com
Media
Sam Manning, Principal Public Relations Manager
press@markforged.com
Ruling eliminates all patent infringement claims made by Continuous Composites in its original July 2021 complaint
WATERTOWN, Mass. – April 4, 2023 – Markforged (NYSE: MKFG) the company strengthening manufacturing resiliency by enabling industrial production at the point of need, announced that the United States District Court for the District of Delaware issued a ruling eliminating all four patents originally asserted by Continuous Composites against Markforged in July 2021. The court ruling confirms that Markforged does not infringe these patents and supports Markforged's position that these claims were meritless.
This outcome stems from a recent “Claim Construction” proceeding where both parties presented arguments for how the key concepts of each patent should be interpreted. Based on the arguments presented, the court sided with Markforged’s interpretation of a phrase in the patents. Following this ruling, Continuous Composites conceded that the four patents should be removed from the case. Continuous Composites agreed to the order. After this ruling, only a single, recently-issued patent that was added to the case in February 2022 remains.
Markforged maintains its position that it does not infringe this last patent, and will continue to defend against the remaining claims. The company is focused on serving the more than 10,000 global manufacturers who rely on Markforged technology every day to produce mission critical parts directly at the point of need.
“We are very pleased with this ruling, which largely validates Markforged’s position that we do not infringe any of Continuous Composites’ patents,” said Shai Terem, President and CEO of Markforged. “From the start, we believed the Continuous Composite lawsuit to be meritless, and it is gratifying to see this bear out as the case progresses. After this ruling any potential exposure related to the matter is limited to the one remaining patent, and we plan to continue to mount an aggressive defense of the few remaining claims against us.”
About Markforged
Markforged (NYSE:MKFG) is making manufacturing more resilient and flexible by bringing on-demand industrial production to the point of need. The Markforged Digital Forge – the reliable, intelligent and easy-to-use additive manufacturing platform – empowers any manufacturer to create strong and accurate end-use parts repeatably in both metal and composites anywhere and anytime. Over 10,000 customers across 70+ countries use The Digital Forge to overcome limitations of traditional manufacturing while strengthening their supply chains. Markforged is headquartered in Watertown, Mass., where it designs the hardware, software and materials that powers its platform. To learn more, visit www.markforged.com.
Special Note Regarding Forward-Looking Statements
This press release contains forward-looking statements that are based on beliefs and assumptions and on information currently available. In some cases, you can identify forward-looking statements by the following words: “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “strategy,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing,” “opportunity” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. Although Markforged believes that it has a reasonable basis for each forward-looking statement contained in this press release, Markforged cautions you that these statements are based on a combination of facts and factors currently known by it and its projections of the future, about which it cannot be certain. Forward-looking statements in this press release include, but are not limited to, the outcome of any legal proceedings against Markforged. Markforged cannot assure you that the forward-looking statements in this press release will prove to be accurate. These forward looking statements are subject to a number of risks and uncertainties, including, among others, general economic, political and business conditions; the ability of Markforged to maintain its listing on the New York Stock Exchange; the effect of COVID-19 on Markforged’s business and financial results; the outcome of any legal proceedings against Markforged; and those factors discussed under the header “Risk Factors” in Markforged’s most recent periodic and other filings with the SEC. Furthermore, if the forward-looking statements prove to be inaccurate, the inaccuracy may be material. In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by us or any other person that Markforged will achieve its objectives and plans in any specified time frame, or at all. The forward-looking statements in this press release represent Markforged’s views as of the date of this press release. Markforged anticipates that subsequent events and developments will cause its views to change. However, while Markforged may elect to update these forward-looking statements at some point in the future, Markforged has no current intention of doing so except to the extent required by applicable law. You should, therefore, not rely on these forward-looking statements as representing Markforged’s views as of any date subsequent to the date of this press release.
Contacts
Investors
Austin Bohlig, Director of Investor Relations
investors@markforged.com
Media
Sam Manning, Principal Public Relations Manager
press@markforged.com
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