ITG Announces Dismissal of Lawsuit

Investment Technology Group, Inc. ITG today announced that Judge Shira Scheindlin of the United States District Court for the Southern District of New York issued a 65-page ruling granting in its entirety ITG's motion for summary judgment of non-infringement of U.S. Patent No. 7,136,834, held by Liquidnet Holdings, Inc. Liquidnet had asserted that the '834 patent was infringed by the ITG Channel®, POSIT Alert® and Macgregor XIP® products. In her ruling, Judge Scheindlin held that ITG's products do not infringe and that Liquidnet's proposed construction of its patent was "simply not reasonable."