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Enron Mail |
This story appeared in Bloomberg today. It's true that we were served today. Based on Vance Meyer's (PR) conversation with legal, our current media response is that we don't comment on litigation. Mark Taylor, Richard Sanders, Travis McCullaugh and an attorney from V&E are working on the matter. I will follow up when I know more.
Kal -----Original Message----- From: Schmidt, Ann M. Sent: Friday, September 21, 2001 2:29 PM To: Shah, Kal; Meyer, Vance; Philipp, Meredith; Denne, Karen Subject: Enron Accused of Infringing Patent for Electronic Trading Enron Accused of Infringing Patent for Electronic Trading 2001-09-21 15:07 (New York) Enron Accused of Infringing Patent for Electronic Trading Marshall, Texas, Sept. 21 (Bloomberg) -- Enron Corp., the largest energy trader, and its online unit are accused in a lawsuit of infringing a Texas company's patent for an electronic trading system. Bid/Ask LLC of Baird, Texas, formerly called Auction Source LLC, said it is the sole rights owner of a patent issued in May 2000 for a ``Real-time Network Exchange with Seller Specified Exchange Parameters and Interactive Seller Participation.'' Houston-based Enron and its EnronOnline unit are improperly using that patented technology through its Internet-based electronic trading facility, according to the lawsuit filed Sept. 17 in federal court in Marshall, Texas. Enron trades commodities such as natural gas and electricity on that trading network. Bid/Ask seeks a court order blocking Enron from infringing the patent, and is asking for damages. EnronOnline began trading electricity and natural gas in November 1999. Between then and the second quarter of 2001, it's handled more than 1 million transactions valued at more than $685 billion, the company has said. Enron, which also trades space on fiber-optic networks, coal, paper and other commodities, had net income of $979 million on revenue of $100.8 billion in 2000. An official with Enron couldn't immediately be reached for comment. Shares of Enron rose 13 cents to $28.52 in midafternoon trading.
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