StoneX Group Inc (NASDAQ:SNEX), the new owner of retail FX brands Forex.com and City Index, has managed to secure more time to prepare its response to patent infringement claims brought by OANDA Corp.

As FX News Group has reported, StoneX had requested a 30-day extension to the deadline to file its response to OANDA’s complaint. StoneX said that it was unaware of the patents before OANDA filed this lawsuit and that it was still in the process of retaining lead patent counsel.

OANDA disagreed with StoneX’s request for an extension but the Court sided with the defendant.

On January 26, 2021, the Illinois Northern District Court granted StoneX’s motion, stating that the requested extension will not materially delay the resolution of this case. StoneX’s answer or other responsive pleading is due on or before February 24, 2021.

Let’s recall that, in this case, OANDA claims that StoneX uses the StoneX Trader platform, including the APIs, to operate automated infringing trading systems. OANDA further alleges that the defendant’s platforms and systems practice each and every limitation of at least claim 1 of the ʼ504 Patent, claim 1 of the ʼ548 Patent, and claim 1 of the ʼ959 Patent.

In addition, OANDA says that the StoneX Select service, and its offered analysis tools and services are an infringing products and services offered by StoneX.

In this action, OANDA seeks an award of damages pursuant to 35 U.S.C. § 284 sufficient to compensate it for StoneX’s alleged past infringements, and any continuing or future infringement, up until the date that OANDA’s patent expires. OANDA also requests an injunction against continued infringement, including but not limited to an injunction against StoneX and/or its agents.