Judge Hacks IP Claims Against ProShares ETF System

Law360, New York (April 20, 2012, 8:07 PM EDT) -- A New York federal judge ruled Friday that the bulk of Leveraged Innovations LLC's infringement claims against ProShares Advisors LLC over a patent for computer systems focused on exchange-traded funds were precluded by a 2003 settlement.

U.S. District Judge Katherine B. Forrest granted a partial summary judgment bid from ProShares, dismissing Leveraged Innovations' claims against ProShares with respect to 127 of 131 ETFs at issue in the case. Claims regarding the other four ETFs remain against ProShares Advisors and ProShares Trust I.

There's no dispute that...
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