According to the Complaint, Marathon Patent Group Inc. ("Marathon" or the Company) operates in the cryptocurrency market, as well as licensing its IP assets.

On June 8, 2017, the Company filed a Schedule 14A Proxy Statement with the Securities and Exchange Commission for the Annual Meeting. In the Proxy Statement, the Board asked Marathon’s stockholders to approve an amendment to the Company’s Articles of Incorporation so that the Board could implement a reverse stock split (the “Reverse Stock Split Proposal”).

The Complaint alleges that the Proxy Statement was materially false and misleading and that the proxy solicitation prevented Marathon’s stockholders from making informed decisions about whether to approve the Reverse Stock Split Proposal.

This case was voluntarily dismissed on December 17, 2018.