Morrison & Foerster has successfully secured a settlement for IEX Group, Inc. and Investors Exchange LLC in a multi-patent infringement suit filed by competitors Nasdaq, Inc. and Nasdaq Technology AB.
The case was settled after Nasdaq voluntarily dismissed one patent, the PTAB invalidated all claims of a second patent, and the PTAB instituted review of two additional patents.
Sophia Lee (General Counsel, IEX) reported that “IEX is pleased to put the Nasdaq litigation behind it without any payments being made, without any changes to its business operations, and with the assurance that Nasdaq will not assert the patents against IEX’s market in the future.”
The Morrison & Foerster team on this matter included partners Michael Jacobs, Kyle Mooney, Matthew Kreeger, Richard S.J. Hung, and Diek Van Nort, of counsel Fahd Hussein Patel, and associates Eric Lin, Neal Burstyn, and Nicholas Rylan Fung.