Fifth Third Exits TQP Encryption Patent Suit

By Erin Coe

Law360, New York (January 13, 2010, 7:15 PM ET) -- TQP Development LLC has cut a deal with Fifth Third Bancorp in the patent-holding firm’s case accusing several financial firms of infringing a patent covering an online encrypted data transmission method.

The parties filed a bid with the U.S. District Court for the Eastern District of Texas on Wednesday seeking to dismiss all claims and counterclaims with prejudice after TQP entered into a settlement release and license agreement with Cincinnati-based Fifth Third and the diversified financial services company’s affiliate, Fifth Third Bank, on Dec. 30....
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