GAIN Capital seeks international judicial assistance in patent infringement lawsuit brought by OANDA
The patent infringement lawsuit brought by OANDA Corporation against GAIN Capital continues at the New Jersey District Court.
GAIN Capital Holdings, Inc. and GAIN Capital Group, LLC has requested that the Court issue a letter of request pursuant to the Hague Convention, for international judicial assistance to the appropriate judicial authority of Switzerland. The document was filed with the Court on February 28, 2025.
OANDA does not oppose the issuance of the letter of request.
The letter of request will facilitate obtaining evidence from Dr. Richard Olsen, an individual currently located in Switzerland. Dr. Olsen is a named inventor on the two patents OANDA asserts in this case.
The letter of request seeks testimony about the patents-in-suit and the inventions claimed therein, which is highly relevant to GAIN’s invalidity and unenforceability defenses to OANDA’s infringement allegation against GAIN.
In addition, GAIN requests that the letter of request be issued by this Court as soon as possible as the appropriate authorities in Switzerland must also review and approve the request despite the fact that Dr. Olsen is being deposed voluntarily.
This is a patent case involving electronic trading of foreign currencies. OANDA filed a complaint against GAIN on May 11, 2020 alleging that GAIN infringes two patents, U.S. Patent No. 7,146,336 (the “’336 patent”) and U.S. Patent No. 8,392,311 (the “’311 patent”).
The Asserted Patents are related (the ’311 patent is a child of the ’336 patent) and share the same specification. The patent claims are directed generally to using computer networks to trade currencies, and more specifically by aggregating rates from financial institutions, determining a market exchange rate, and executing a trade if the rate falls within a trader’s acceptable parameters.
The ’336 patent contains “system” claims that recite various “servers” and “engines” that purportedly take part in executing a trade. The ’311 patent contains method claims reciting steps performed by a “trading system server” and a “trading client system” to effect a trade.
