LendingTree and QuinStreet settle patent dispute

Associated Press

CHARLOTTE, N.C. (AP) — Online mortgage service LendingTree and marketing services company QuinStreet Inc. said Monday they resolved a patent lawsuit.

The companies said the lawsuit was brought by LendingTree LLC and related to coordinating loans over the Internet. QuinStreet agreed to drop a challenge to the patent and will license it from Tree.com, LendingTree's parent company.

LendingTree has settled with three companies in a lawsuit but said it expects to go to trial with Zillow Inc., Adchemy and Nextag in early 2014.

Shares of QuinStreet rose 10 cents to close Monday at $6.11. The stock is down about 35 percent since the start of 2012.