Harness IP is pleased to announce that St. Louis patent attorneys Matt Cutler and Michael Thomas have secured a favorable litigation settlement for client Exegy Incorporated involving field programmable gate array (FPGA) technology for high-speed processing of financial market data.

Exegy, which is based in St. Louis, has dismissed its lawsuit asserting infringement of sixteen patents by Chicago-based ACTIV Financial Systems, Inc. in the United States District Court for the Northern District of Illinois. Four related Inter Partes Review (IPR) proceedings at the United States Patent and Trademark Office have also been terminated.   

“Our strategic approach to proving infringement in the litigation and defending the validity of Exegy’s patents in the IPRs ultimately led to this desirable outcome,” says Matt Cutler. 

“We are thrilled we could help Exegy achieve this success,” adds Michael Thomas. “They are true innovators in high-performance data processing and took all the right steps to protect and enforce their valuable IP.”

As stated by Exegy’s Chief Executive Officer, James O’Donnell, “Our innovations continue to yield market-leading products that deliver quantitative benefits to our clients and allow us to contribute to the advancement of the financial services industry as a whole. We are entitled to fair compensation for using our protected technologies and we are committed to defending our intellectual property assets.”

About Harness IP

Harness IP is celebrating 100 years as an intellectual property law firm. Founded in 1921, the firm currently holds a #2 ranking from IAM Media for providing counsel to 44 companies with the largest portfolios of issued U.S. patents. The firm also ranks #6 for filing the most patent applications on behalf of those companies. Harness IP’s attorneys and IP professionals focus exclusively on patents, trademarks, global IP management, litigation, and other IP rights. The firm has offices in Metro Dallas, Detroit, St. Louis, and Washington, D.C. Visit www.harnessip.com for more information.