On July 10, 2015, the Patent Trial and Appeal Board (PTAB) ruled in favor of Finnegan client Trading Technologies, refusing CQG's request to institute a covered business method (CBM) review of two Trading Technologies' patents. In 2005, CQG challenged Trading Technologies' patents in a Colorado federal court. The case was later moved to an Illinois federal court and the judge dismissed the Colorado action without prejudice. In March 2015, the court found that CQG had infringed the two Trading Technologies patents and ordered CQG to pay $16 million in royalty damages. CQG requested a CBM review from the PTAB, however, patent law prevents the PTAB from instituting a CBM review if a petitioner has already filed a civil action challenging a patent's validity, despite the fact that the action was dismissed. Finnegan attorney Erika H. Arner represented Trading Technologies. She said, "I think the Board denying review was in line with Congress' intent to have the PTAB proceedings be an alternative to litigation and not in addition to litigation."
