Trading Technologies (TT) scored a major victory in its
patent infringement case against E-Speed when a jury ruled that
E-Speed fully infringed on TTs patented MD Trader
software in 2004.
The jury, which deliberated for two and a half days, awarded TT
$3.5 million in damages, on 10 October, ultimately upholding
the firms well-known software patent. The judge could
triple the damage amount because the jury determined that
E-Speed wilfully infringed.
Were obviously happy the jury validated our
patents, said Steve Borsand, chief intellectual property
counsel for TT. And in terms of the other cases, this was
a big first step.
TT is still engaged in patent infringement litigation with
several other firms including CQG, Rosenthal Collins Group
(RCG), GL Trade and Futurespath. A court hearing is set for 16
October to determine how those firms would like to proceed with
For its part, E-Speed is likely to appeal its case with the US
Circuit Court of Appeals and sounded like it was ready to carry
on in its statement after the verdict.
The court has yet to try certain issues relating to the
validity and enforceability of the patents, any of which could
eliminate the judgment, E-Speed said. ESpeed will
present additional arguments that the patents are invalid and
will also present evidence that the patents cannot be enforced
due to inequitable conduct by [TT]. The courts decision
on these matters will probably occur in the next few
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