Source: Trading Technologies
Trading Technologies International, Inc. (TT) today announced it has reached a settlement agreement with Refco Group Ltd., LLC, Al Togut, the chapter 7 trustee of Refco, LLC, Refco EasySolutions, LLC, Refco Screens, Limited (formerly EasyScreen Ltd.) and other Refco related entities (collectively, "Refco").
The settlement resolves a lawsuit that was pending in the United States District Court for the Northern District of Illinois in Chicago prior to Refco's chapter 11 filing alleging that the defendants infringed TT's U.S. Patent Nos. 6,766,304 and 6,772,132. The lawsuit was resolved with the entry of a Consent Judgment finding infringement and validity. As part of the settlement, Refco will pay to TT a settlement amount of $350,000 and TT will release Refco and its customers of any past liability for infringement of TT's MD Trader patents.