Citigroup Settles In TQP Online Encryption Patent Suit

Law360, New York (October 20, 2009, 6:34 PM EDT) -- Following in the footsteps of numerous other banks, Citigroup Inc. and its subsidiaries have reached a truce with TQP Development LLC in a patent infringement suit over technology for online encrypted data transmissions.

Citigroup, Citibank NA, Primerica Financial Services Inc. and Citigroup Global Markets Inc. asked the the U.S. District Court for the Eastern District of Texas to dismiss the claims against them with prejudice in light of a settlement reached with TQP.

Citigroup also requested that any counterclaims be declared as moot in light of...
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