Morgan Stanley Gets Trading Patent Case Dismissed Post-Discovery

A judge dismissed Intercurrency Software LLC’s patent infringement suit against Morgan Stanley & Co. after the parties stipulated discovery revealed no infringement.

The lawsuit targeted Morgan Stanley’s wealth management and E*Trade cryptocurrency exchange systems, alleging that they infringed patents covering currency conversion online. The technology enables traders to “facilitate security transactions in a preferred currency, regardless what original or market currency the securities are being traded in and where the transaction may take place” according to one patent mentioned in the complaint filed in the US District Court for the Eastern District of Texas. Judge Rodney Gilstrap dismissed the case ...