Bloomberg Buckles To Reuters Patent Lawsuit: Report

Law360, New York (January 23, 2006, 12:00 AM EST) -- In their duel over domination of the electronic trading business, Reuters and Bloomberg LP are temporarily sheathing their swords as they prepare to settle a lawsuit Reuters brought against Bloomberg for allegedly infringing patents for its automated trading technology.

The companies hope to conclude a settlement within two weeks, the Financial Times reported on Monday, citing unnamed sources.

The lawsuit, filed in a federal court in New York in 2003, alleges the U.S. company infringed three patents covering the U.K. news agency’s technology for automated matching...
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