TD, Schwab, others sued in patent infringement case

Australian firm claims offerings violate patent it obtained last year

Jun 26, 2012 @ 3:50 pm

By Dan Jamieson

An Australian firm has filed patent-infringement lawsuits against six U.S. brokerage firms over their use of a trading-alert technology.

In similar lawsuits filed last week, Markets-Alert PTY Ltd. of Bankstown, Australia, near Sydney, claims that The Charles Schwab Corp., TD Ameritrade Holding Corp., E*Trade Financial Corp., Trademonster, Interactive Data Corp. and Bloomberg Finance LP are violating a U.S. patent that Markets-Alert obtained last year.

The Australian company's technology alerts investors via mobile devices whenever user-defined technical trading signals are triggered.

Markets-Alert claims trading platforms such as Schwab's OptionsXpress, TD Ameritrade's thinkorswim, the E*Trade Pro system, Interactive Data's Esignal.com and Bloomberg's Professional Launchpad are infringing on its technology.

The suits, filed in U.S. District Court in Delaware, claim unspecified damages and seek an injunction against the alleged violators.

Markets-Alert's attorney, Adam Poff of Young Conaway Stargatt & Taylor LLP, did not return a call seeking comment.

Schwab spokesman Greg Gable declined to comment, saying the firm is reviewing the suit.

Representatives for the other defendants did not respond to requests for comment.

0
Comments

What do you think?

View comments

Recommended for you

Featured video

Events

What's the survival threshold in the M&A landscape?

Dave DeVoe answers pressing questions about the M&A space and whether or not he believes the roll ups will get rolled.

Latest news & opinion

Meet our 2017 Women to Watch

Introducing 20 female financial advisers and industry executives who are distinguished leaders, advancing the business of providing advice through their creativity and hard work.

Raymond James executives call on industry to keep broker protocol

Also ask firms to pay for the administration of the protocol to 'ensure its longevity and relevance.'

Senate committee approves tax plan but full passage not assured

Several Republican senators expressed reservations about the bill, and the GOP cannot afford too many defections.

House passes tax bill, focus turns to Senate

Tax reform legislation expected to have more of a challenge in upper chamber.

SEC enforcement of advisers drops in Trump era

The agency pursued 82 cases against advisers and firms in fiscal year 2017, down from 98 the previous year.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print