BG Infringing GERS' Oil Extraction Patents In Iowa
BG is infringing GERS' family of patents at a plant in CB, Iowa, that BG is part owner of.
ICM is being sued by GERS and has agreed to indemnify BG.The problem is, ICM has been badly damaged by the drought and has laid off more than half it's workforce since the lawsuit began.
ICM has agreed to indemnify way more producers than they can afford when it hits the fan. BG will be liable to GERS when ICM goes bankrupt. Damages against BG are adding up daily.
ICM tried to sue GERS 1st to get the "home turf" advantage. The judge dropped ICM's claims against GERS in Kansas.
ICM told BG that under a proper interpretation of GERS' patents, BG isn't infringing. The courts ruled against ICM and interpreted the patents in GERS' favor.
Investors in BG be warned, GERS' has vowed to protect the competitive advantage licensed producers have over infringers like BG. They are in the process of expanding the lawsuit against the ethanol plant BG owns an interest in, IMO.