on Network-1 Technologies, Inc. (NASDAQ:NTIP)
Network-1 Technologies Initiates Legal Action Against Citadel and Jump Trading
Network-1 Technologies, Inc. has announced that its subsidiary, HFT Solutions Technologies, initiated a patent litigation case against Citadel Securities and Jump Trading. This lawsuit, filed in the U.S. District Court for the Northern District of Illinois, claims infringement of three U.S. patents related to high frequency trading technologies.
The contested patents belong to the HFT Patent Portfolio, acquired by HFT Solutions in 2022. The portfolio focuses on technologies supporting high frequency trading, particularly using FPGA hardware for improved transaction latency. HFT Solutions holds eleven issued U.S. patents and looks forward to expanding its claims.
Network-1 offers licensing opportunities for firms that utilize these patents in high frequency trading, anticipating further developments by 2040. This step aligns with their broader strategy of protecting and monetizing intellectual property.
R. P.
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