ISE Backs Away From $400M IP Trial Against CBOE

Law360, Chicago (March 14, 2013, 12:15 PM EDT) -- A trial in International Securities Exchange LLC's trading system patent battle with Chicago Board Options Exchange Inc. was canceled moments before it was to begin Thursday, after several rulings this week limited evidence ISE could present in its suit seeking more than $400 million in damages.

CBOE counsel Jonathan Marshall of Fish & Richardson PC said that ISE had conceded to a judgment of noninfringement of the patent at issue, which would allow it to launch an appeal.

ISE, a Deutsche Borse AG unit, issued a...
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