HOUSTON, January 28, 2014 -- On January 27, 2014, the U.S. Court of Appeals for the Federal Circuit upheld a lower court’s decision for the CME Group, Inc. -- a Baker Botts client -- granting summary judgment against Realtime Data in a patent infringement suit filed 2009. The infringement actions filed by Realtime involved six patents directed to the use of data compression and decompression techniques in commodity and financial trading.
The win comes in what legal analysts consider to be one of the most complex multi-party, multi-case patent litigations in the financial industry with nine separate cases being handled concurrently. While the cases originally were filed by Realtime Data in the Eastern District of Texas, they were transferred to the Southern District of New York by Writ of Mandamus. In response to CME Group’s motion, that Court entered summary judgment against Realtime Data on all claims and against all defendants in September 2012.
Houston partners Scott Partridge and Michael Hawes filed the Appeals Court brief, and Hawes argued the case for the CME Group before the Court late last year. The CME Group includes the Chicago Mercantile Exchange, the Board of Trade of the City of Chicago, Inc. and New York Mercantile Exchange, Inc.
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