MIAX Clears Major Legal Hurdle as Nasdaq Patent Suit Is Dismissed With Prejudice
MIAX sits 46% above its 52-week low of $28.63.
Summary
Miami International Holdings announced the dismissal with prejudice of all claims in its patent litigation with Nasdaq, removing a major legal overhang and confirming the company's freedom to operate its exchange and technology businesses without restriction.
Key Events · Legal and Risk Events · MIAX
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Litigation Dismissed With Prejudice
On July 20, 2026, the U.S. District Court for the District of New Jersey entered an Order of Dismissal With Prejudice, ending all claims and counterclaims in the Nasdaq litigation.
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Freedom to Operate Confirmed
The ruling confirms that MIAX can freely operate, modify, and create exchanges and trading platforms, and license or sell technology without any license or consent from Nasdaq, and without risk of infringement claims.
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Long-Running Dispute Resolved
The litigation began in September 2017 when Nasdaq sued MIAX. In 2019, the PTAB invalidated six Nasdaq patents, and the case was stayed until 2022. This dismissal ends the matter entirely.
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Strategic and Financial Benefits
Removing the litigation overhang reduces legal costs and uncertainty, potentially enhancing MIAX's ability to pursue growth initiatives and partnerships without the cloud of patent infringement risk.
Analysis · MIAX · Crypto Assets
A federal court has dismissed with prejudice all claims and counterclaims in the long-running patent dispute with Nasdaq, eliminating a significant legal risk that has hung over the company since 2017. The ruling confirms MIAX can freely operate and expand its exchange and technology businesses without fear of infringement claims from Nasdaq. For a company with a $4.1 billion market cap, removing this uncertainty is a material positive that clears the path for strategic flexibility and reduces litigation costs.
At the time of this filing, MIAX was trading at $41.93 on NYSE in the Crypto Assets sector, with a market capitalization of approximately $4.1B. The 52-week trading range was $28.63 to $57.14. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.