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Acacia, UBid Settle Online Auction Patent Suit

Law360 (January 6, 2009, 12:00 AM EST) -- Acacia Research Corp. unit TransAuction LLC has struck a deal with uBid Holdings Inc. to end uBid's involvement in a suit TransAuction filed in June against five e-commerce companies over a patent covering guaranteed and/or bonded online auctions.

TransAuction and uBid.com filed a joint motion asking Judge David Folsom of the U.S. District Court for the Eastern District of Texas to dismiss the dispute between them with prejudice.

The joint motion said that the parties had reached an agreement that resolved their differences, and that each...
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