TFS to Pay Argus 1mn pounds Sterling in Settlement of UK Copyright Abuse Case

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Nov 18, 2010, 08:18 ET

LONDON, Nov. 18, 2010 /PRNewswire/ -- Global energy price reporting agency Argus today announces settlement of its legal dispute with foreign exchange and commodity broker Tradition Financial Services (TFS).

Argus brought proceedings against TFS in the High Court last year, alleging copyright infringement and breach of contract in respect of various Argus publications.

TFS has agreed to a court order under which it undertakes not to infringe Argus' copyright in relation to the publications in dispute and will pay Argus 1mn pounds in compensation.

Argus Media chairman and chief executive Adrian Binks said: "This agreement brings to an end a protracted legal dispute in the UK and fully vindicates Argus' position that TFS violated its copyrights."

Binks added: "Argus always prefers to work with its clients to ensure that they are appropriately licensed. But Argus is also prepared to take legal action, if necessary, to protect its intellectual property rights."

For further information contact: Jim Nicholson or Seana Lanigan in London on +44 20 7780 4200 or email [email protected]

About Argus Media

Argus is a leading provider of price assessments, business intelligence and market data on the global crude and products, natural gas, coal, electricity, emissions and transportation industries. It is headquartered in London and has offices in Houston, Washington, New York, Portland, Calgary, Johannesburg, Dubai, Singapore, Tokyo, Beijing, Sydney, Moscow, Astana, Kiev, Santiago and other key centres of the energy industry. Argus was founded in 1970 and is a privately held UK-registered company. Learn more at www.argusmedia.com.