LendingTree and QuinStreet Reach Settlement on Patent Infringement Lawsuit
CHARLOTTE, N.C., Nov. 26, 2012 /PRNewswire/ -- LendingTree, LLC, a subsidiary of Tree.com, Inc. (NASDAQ: TREE) and QuinStreet, Inc. (NASDAQ: QNST) have settled on mutually agreeable terms the patent infringement lawsuit brought by LendingTree against QuinStreet concerning LendingTree's patent that relates generally to coordinating loans over the Internet, and the counterclaims brought by QuinStreet against LendingTree. LendingTree and QuinStreet have executed a license for the patent and related patents of LendingTree, and QuinStreet has agreed not to continue to challenge the validity of LendingTree's patent. The terms of the license and other provisions of the parties' settlement are confidential. Doug Lebda, chairman & CEO of Tree.com, stated, "QuinStreet is the third major company with whom LendingTree has reached licensing terms on these patents. We anticipate that the trial against the remaining defendants, Zillow, Adchemy, and Nextag, will take place in early 2014."
About LendingTree, LLC
LendingTree, LLC is the nation's leading online source for competitive home loan offers, empowering consumers during the mortgage, refinance or auto loan process. LendingTree provides an online marketplace which connects consumers with multiple lenders that compete for their business, as well as an array of online tools and information to help consumers find the best loan. Since inception, LendingTree has facilitated more than 30 million loan requests and $214 billion in closed loan transactions. LendingTree provides access to lenders offering mortgages and refinance loans, home equity loans/lines of credit, and more. LendingTree, LLC is a subsidiary of Tree.com, Inc. (NASDAQ: TREE). For more information go to www.lendingtree.com, dial 800-555-TREE, join our Facebook page and/or follow us on Twitter @LendingTree.
QuinStreet, Inc. (NASDAQ: QNST) is one of the largest Internet marketing and media companies in the world. QuinStreet is committed to providing consumers and businesses with the information they need to research, find and select the products, services and brands that meet their needs. For more information, please visit QuinStreet.com.
SOURCE LendingTree, LLC