High Frequency Trading Systems LLC v. Liquidnet Holdings, Inc.

The sole litigation campaign of Post Media Systems LLC, a subsidiary of Equitable IP Corporation, is developing a pattern of serial assertion. On the heels of September and October settlements ending cases filed against iHeartMedia and Spotify, the NPE filed a November suit against SoundCloud. Now that the court has stayed all deadlines in that case in light of an impending settlement, Post Media has filed a new case against Slacker (2:17-cv-00252). All patents in a family of five (7,069,310; 7,472,175; 8,015,263; 8,725,832; 8,959,181) are asserted in the new complaint; the patents generally relate to managing media files for playback over a computer network, with the defendants throughout the campaign accused of infringement through the provision of their music and radio online services and related apps.

Post Media Systems LLC has kept its sole litigation campaign alive, filing suit against SoundCloud (2:16-cv-01269) after a September settlement with iHeartMedia and an October settlement with Spotify. All patents in a family of five (7,069,310; 7,472,175; 8,015,263; 8,725,832; 8,959,181) are asserted in the new complaint, subsets having been asserted against the prior two defendants. The family generally relates to managing media files for playback over a computer network, with the defendants accused of infringement through the provision of their music and radio online services and related apps. Post Media’s is one of seven litigation campaigns, in disparate technical fields, initiated by entities managed by Erik Stamell, now the president of NPE Equitable IP Corporation, since November 2015.

High Frequency Trading Systems LLC (HFTS) has filed four new cases in the campaign it began in late 2015, asserting a single patent (7,231,363) generally related to electronically managing the exchange of financial instruments. Knight Capital (KCG BondPoint) (2:16-cv-13082), Liquidnet (2:16-cv-13077), MarketAxess Holdings (2:16-cv-13052), and MTS Markets (2:16-cv-13084) are accused of infringement through provision of online trading platforms. HFTS’s new filings provide just one example of the recent activities of its manager, Erik Stamell.