Cadence Settles Energy Management Patent Suit

Law360, New York (August 2, 2007, 12:00 AM EDT) -- Expense management firm Cadence Network Inc. has agreed to settle a lawsuit in which Phoenix IP LLC accused it of infringing a patent on energy management technology.

The settlement was reached sometime before July 25, when Cadence and Phoenix IP jointly moved to dismiss all claims and counterclaims in the case. Judge T. John Ward of the U.S. District Court for the Eastern District of Texas approved the motion Monday.

The terms of the settlement were undisclosed, and an attorney for Cadence declined to comment further....
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