Tree.com, Inc. (NASDAQ: TREE) announced that a federal jury inCharlotte, North Carolina, returned a verdict in the patent infringement case against defendants Zillow, Inc., Adchemy, Inc., and NexTag, Inc.
A formal judgment has not yet been entered in the case and certain issues not before the jury remain to be resolved. Tree.com stated that it is pleased with the jury's findings on the defendants' counterclaims, but it is disappointed with the verdict on its patent claims and believes it has strong grounds for appeal. Tree.com stated that the verdict will not impact its ability to offer LendingTree's current suite of products and services. The verdict does not affect the business outlook and guidance for 2014 discussed in Tree.com's press release issued March 10, 2014.
Source: Tree.com, Inc.