LendingTree, Mortech Settle Lawsuit
LendingTree, a subsidiary of Tree.com (TREE), announced an end to its business infringement lawsuit against Mortech. Terms of the settlement will not be disclosed, according to a Mortech spokesperson. LendingTree, a Web-based online mortgage aggregate, alleged that Mortech infringed on the two firm’s operating business agreement when the mortgage software developer made plans to partner with search engine company Google (GOOG). Mortech allegedly violated its contractual obligations with its plans to launch an online mortgage loan aggregate service similar to LendingTree’s with Google. Mortech later responded that, in its opinion, the firm operates fairly in all aspects of its business. Write to Austin Kilgore.