Oanda and Gain Capital have not yet reached an agreement on the scope of the deposition of Glenn Stevens, a former CEO Gain, as the lawsuit of a patents brought by Oanda continues to the New Jersey regional court.
Haved brokers agreed to win a second day of deposition by Dr. Michael Stumm on July 29, 2025, and Oanda took a second day of deposition by Glenn Stevens on August 7, 2025.
Glenn Stevens has been the founder and CEO of profit for over twenty years, creating businesses offering retail traders the opportunity to exchange various financial products. Mr Stevens has over thirty -five years of experience in financial markets focused on Forex products. Prior to profit, he held various higher roles for major financial institutions, such as Natwest Bank, Bank of America (Merrill Lynch) and Bankers Trust.
Profit and Oanda had disagreements about the lawsuit on patents. The latest example of such a conflict concerns the requested deposition of former Actforex Ilya Sorokin chief executive.
The plaintiff Oanda Corporation sued Gain Capital Holdings, Inc. and Gain Capital Group, LLC for the alleged violation of two United States patents aimed at commercial coins through a computer network.
The patent ‘336 teaches, among other things:
In one aspect, this invention includes a system for trading coins through a computer network. A preferred incorporation includes: (a) a front of the server, (b) at least one database; (c) transaction server; (d) rhythm server; (e) pricing engine; (f) interest rate manager; (g) trading manager; compensation. In another aspect, the present invention includes methods for the trading currency through a computer network. In another aspect, this invention includes currency transactions software through a computer network.
The patent “311 teaches, among other things:
In one aspect, this invention includes a system for trading coins through a computer network. A preferred incorporation includes: (a) a front of the server, (b) at least one database; (c) transaction server; (d) rhythm server; (e) pricing engine; (f) interest rate manager; (g) trading manager; compensation. In another aspect, the present invention includes methods for the trading currency through a computer network. In another aspect, this invention includes currency transactions software through a computer network.