LendingTree, QuinStreet Announce Deal on Patent Infringement Suit

LendingTree, LLC, a subsidiary of Tree.com, Inc. TREE and QuinStreet, Inc. 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."