Network-1 Technologies Initiates Patent Litigation Against Citadel Securities and Jump Trading

Network-1 Technologies, Inc. disclosed on December 26, 2024, that its wholly-owned subsidiary, HFT Solutions, LLC (HFT), has commenced patent litigation against Citadel Securities, LLC, and Jump Trading, LLC in the United States District Court for the Northern District of Illinois for infringement of three U.S. Patents. These patents, numbered 10,931,286, 11,128,305, and 11,575,381, collectively referred to as the “Patents-in-Suit,” form part of the HFT Patent Portfolio acquired by HFT in March 2022.

The HFT Patent Portfolio focuses on technologies utilized by companies involved in high-frequency trading activities involving field-programmable gate array (FPGA) hardware. Of particular note is the clock domain management technology within the portfolio, facilitating essential transaction latency gains in trading systems where success hinges on timing differences as minute as nanoseconds.

Accompanying this disclosure is a copy of the press release outlining these legal developments in detail, attached as Exhibit 99.1.

In adherence to regulatory reporting requirements, Network-1 Technologies also furnished the following exhibit:

Exhibit 99.1: Press Release dated December 24, 2024

Besides the press release, the company submitted the Cover Page Interactive Data File (embedded within the Inline XBRL document) as Exhibit 104.

The signing officer of Network-1 Technologies, Inc., Corey M. Horowitz, Chairman, and Chief Executive Officer, formalized the report on behalf of the registrant on December 27, 2024.

Given this new legal action and the gravity it holds for the involved parties, further developments are likely to unfold as the case progresses through the legal system. Investors and industry observers are urged to monitor these proceedings for potential impact on the market and trading activities.

This concludes the disclosure of Network-1 Technologies’ recent patent litigation initiation.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Network-1 Technologies’s 8K filing here.

Network-1 Technologies Company Profile

Network-1 Technologies, Inc engages in the development, licensing, and protection of intellectual property assets. The company owns 100 patents, including the Cox patent portfolio related to enabling technology for identifying media content on the Internet; M2M/IoT patent portfolio related to enabling technology for authenticating, provisioning, and using embedded sim technology in IoT, machine-to-machine, and other mobile devices, such as smartphones, tablets, and computers, as well as automobiles; and HFT patent portfolio covering technologies related to high frequency trading that addresses technological problems associated with speed and latency, and provide critical latency gains in trading systems.