27 August 2016
Find out more

Jury retires in Cantor patent case

18 February 2005  |  4478 views  |  0 crowd

A six-person Delaware jury has retired to deliberate a patent infringement lawsuit brought against Icap subsidiary Garban by rival interdealer broker Cantor Fitzgerald.

The jury is expected to return its verdict on the latest dispute between the feding brokers within days. An infringement suit brought by Cantor Fitzgerald against BrokerTec - another Icap subsidiary and prime competitor to Cantor treasury trading network eSpeed - was over-ruled in a pre-trial motion.

Cantor has instead asked the jury to find that Icap transferred some liability to BrokerTec when it connected the unit's back end system to that of alleged infringer Garban.

During the trial, Icap's defence lawyers alleged that Cantor misled the US Patent Office by redrawing its original patent application for a basic bond trading system to incorporate "cool new rules" that were already commonplace in the market.

Cantor rejects the charge, saying the original patent was for a prototype system. The subsequent amendements were mere "corrections and clarifications".

Separately, eSpeed yesterday found itself on the receiving end of a class action lawsuit brought by Mircuz Partners on behalf of all investors who bought shares in the company between 12 August 2003, and 1 July, 2004. The suit alleges that eSpeed executives made "material false positive statements during the class period". ESpeed has dismissed the suit as "without merit".

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Judge backs TT patent infringement claim

Judge backs TT patent infringement claim

14 February 2005  |  8623 views  |  0 comments
ESpeed shares plummet as BrokerTec beats patent claim

ESpeed shares plummet as BrokerTec beats patent claim

08 February 2005  |  10774 views  |  0 comments
Futures industry petitions courts to unseal TT patent files

Futures industry petitions courts to unseal TT patent files

17 January 2005  |  5673 views  |  0 comments
Espeed price improvement move to hit revenues

Espeed price improvement move to hit revenues

04 January 2005  |  3699 views  |  0 comments
Nybot and eSpeed terminate trading deal

Nybot and eSpeed terminate trading deal

01 December 2004  |  4176 views  |  0 comments
ESpeed pays £14 million for London's ITSEcco Holdings

ESpeed pays £14 million for London's ITSEcco Holdings

21 October 2004  |  3923 views  |  0 comments
TT files patent suit against eSpeed; others likely to follow

TT files patent suit against eSpeed; others likely to follow

18 August 2004  |  7758 views  |  0 comments
eSpeed cuts Q2 profit forecast as competition bites

eSpeed cuts Q2 profit forecast as competition bites

02 July 2004  |  3297 views  |  0 comments
OMHEX to fight $64 million eSpeed patent suit

OMHEX to fight $64 million eSpeed patent suit

28 May 2004  |  4867 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit capgemini.comVisit VocaLink.comVisit equens.com

Top topics

Most viewed Most shared
hands typing furiouslyBig Data's Three Big Trends in 2016
7740 views 5 | 22 tweets | 13 linkedin
hands typing furiouslyHow Banks Are Losing Millions by Ignoring...
7557 views 11 | 24 tweets | 10 linkedin
Nordea looking for AI and blockchain breakthroughsNordea looking for AI and blockchain break...
6597 views comments | 17 tweets | 21 linkedin
R3 blockchain consortium sheds light on Concord projectR3 blockchain consortium sheds light on Co...
6087 views comments | 14 tweets | 14 linkedin
India's Unified Payments Interface goes live with 21 banksIndia's Unified Payments Interface goes li...
5722 views comments | 16 tweets | 18 linkedin

Featured job


Brussels (Belgium) or Paris (France)

Find your next job