Debt Resolve Files Patent Infringement Lawsuit

Debt Resolve, Inc. (AMEX: DRV) announced yesterday that it has filed a patent infringement lawsuit against Apollo Enterprise Solutions, LLC in the U.S. District Court, District of New Jersey. The lawsuit alleges infringement of United States Patent Nos. 6,330,551, and 6,954,741, both entitled Computerized Dispute Resolution System and Method. Debt Resolve has exclusive rights under both patents with respect to web-based consumer debt collections worldwide.

The defendant, Apollo Enterprise Solutions, LLC, alleges that it has developed an online system for the collection of consumer debt which allows debtors to, among other things, negotiate a settlement in real-time that may be accepted by Apollo’s computerized system based on rules defined by the creditor. This online method of dispute resolution is protected by the Debt Resolve patent which has been granted in the United States and numerous other countries, including the United Kingdom.

Debt Resolve’s complaint seeks a permanent injunction and damages for the loss of profits and royalties against Apollo, and together with an allegation that Apollo’s infringement is willful, trebled damages and attorney’s fees and
expenses.

James Burchetta, Debt Resolve Chairman and CEO said: "Debt Resolve intends to vigorously defend its patent rights and intellectual property against any infringer." Debt Resolve is represented by Albert L. Jacobs Jr. and Daniel A. Ladow of the New York office of the Greenberg Traurig, LLP law firm.

Apollo Enterprises issued their own release answering the allegations: Apollo Enterprise Solutions, LLC, has not been served with any complaints so it would be premature to comment on Debt Resolve’s press release. Having the benefit of several patent firms’ expert reviews of Apollo’s significantly different patent-pending technology and Debt Resolve’s granted patents, Apollo is comfortable and confident in its intellectual property position and will release a more formal statement once we have had an opportunity to review the allegations contained in the press release. Apollo intends to vigorously defend its proprietary technology, its products based on that technology, and its rapidly-growing portfolio of satisfied customers.