Regions Financial Dropped From TQP Patent Suit

Law360, New York (December 17, 2009, 3:56 PM EST) -- TQP Development LLC has notched another settlement in its litigation accusing more than two dozen banks and finance firms of infringing its online encrypted data transmission patent, dropping Regions Financial Corp. from the suit.

Judge T. John Ward of the U.S. District Court for the Eastern District of Texas on Wednesday approved the parties' joint stipulation for the dismissal of TQP's claims with prejudice and of Regions Financial's counterclaims as moot in accordance with their Oct. 9 settlement agreement.

Each party will bear its own costs,...
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