eSpeed, Inc. (Nasdaq: ESPD), the leader in developing and deploying electronic marketplaces and related trading technology, along with certain affiliates has filed a patent infringement suit against BrokerTec USA, LLC, BrokerTec Global, LLC, its parent ICAP, PLC, Garban, LLC, its technology provider OM Technology and its parent company, OM AB ("BrokerTec") in the United States District Court for the District of Delaware. The suit centers on BrokerTec's infringement of U.S. Patent No. 6,560,580 issued on May 6, 2003, which expires in 2016, with respect to which eSpeed is the exclusive licensee. The patent protects some of eSpeed's proprietary systems and methods of electronic trading.
Among other things, eSpeed seeks an order from the Court directing BrokerTec to cease operations of its competing electronic trading system that infringes eSpeed's patented systems and methods. eSpeed has asked the Court to enjoin or stop BrokerTec from continuing its infringement during the pendency of the lawsuit.
