The United States Court of Appeals for the Federal Circuit (Appeals Court) on Friday, March 25, 2016, affirmed the decision of the Patent Trial and Appeal Board (PTAB) of the U.S. Patent and Trademark Office (USPTO) that invalidated three CBOE patents (US Patent Nos. 7,356,498, 7,980,457 and 8,266,044). The Appeals Court agreed with ISE and found that all three patents are invalid. These patents formed the basis of litigation that CBOE brought against ISE in the case of Chicago Board Options Exchange, Incorporated v. International Securities Exchange, LLC (Case No. 1:13-cv-01339-JMF). The case was dismissed by the trial court, following the earlier PTAB decision to invalidate the patents.
Gary Katz, ISE President and Chief Executive Officer, said, “We are very pleased that the Appeals Court upheld the PTAB decision which invalidated the CBOE patents and that we can finally put this matter to rest.”
ISE was represented in the case by Winston and Strawn LLP.