Lehman Hit With Patent Suit Over Trading Technology

Law360, New York (May 1, 2008, 12:00 AM EDT) -- Lehman Brothers Inc. uses a system that infringes two automated options derivatives trading patents, a Chicago-based financial information technology company has claimed.

Edge Specialists LLC and affiliate Edge Capture LLC asserted two claims of infringement against Lehman and another two against its parent, Lehman Brothers Holdings Inc., in a complaint filed Monday in the U.S. District Court for the Northern District of Illinois.

Lehman uses the technology disclosed in the two patents to execute automated trades, typically based on preset algorithms, of options derivatives, Edge Specialists...
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