Raymond James Settles In TQP Encryption Patent Suit

Law360, New York (January 7, 2010, 12:43 PM EST) -- Raymond James Financial Inc. has become the latest financial services company to resolve TQP Development LLC's suit accusing more than two dozen banks and finance firms of infringing a patent related to an online encrypted data transmission method.

In a joint motion lodged Wednesday in the U.S. District Court for the Eastern District of Texas, the parties requested an order dismissing both TQP's claims with prejudice and Raymond James' counterclaims as moot in accordance with a Dec. 14 settlement agreement.

Each side will bear its own...
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