Goldenberg Hehmeyer settles within a day
Trading Technologies (TT) has obtained an admission of
patent infringement from one of its largest customers -
proprietary trading firm Goldenberg Hehmeyer (GHCO) - which has
agreed to license the patents going forward.
The agreement settles a suit, which was believed to relate
to GHCO's in-house trading system, filed by TT on 28
The content of the suit was largely identical to the one
brought by TT against Espeed, with four of the 24 points -
allegations relating to the promotion and advertising of
products - deleted, with no renumbering to account for the
GHCO founder Chris Hehmeyer did not comment on TT's lawsuit,
and GHCO did not file an official response to the
suit with Northern Illinois District Court, where it was
Hehmeyer did confirm that GHCO is a long-time customer of
TT's; both firms mention each other on their websites. On its
site, GHCO uses TT as a selling point to traders, saying,
"Trading Technologies? [is a] market share leader with
unrivalled track record in innovation and stability." The TT
website also listed GHCO amongst its distributors.
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